Chery Omoda Surges Past Tesla in Spain Tapping into Europe's Auto Market
Wednesday, Sep 4, 2024 3:00 am ET
1min read Last month, Chinese automaker Chery Automobile's subsidiary brand Omoda outperformed Tesla, Jeep, and Fiat in Spain, signaling a positive development for Chery's ambitious plans to penetrate the European market.
According to the Spanish Association of Automobile and Truck Manufacturers (Anfac), Chery Omoda sold 744 new cars in Spain this August, marking an astounding 8,167% increase compared to the same period last year when only 9 units were sold. Currently, Chery Omoda offers the gasoline-powered Omoda 5 SUV at a price of €28,000 (approximately $30,900) and a more expensive electric version.
In contrast, Anfac reported that American electric vehicle manufacturer Tesla sold 549 new cars in Spain last month, while Jeep and Fiat sold 532 and 305 new cars respectively.
From an industry-wide perspective, Anfac data reveals that passenger car sales in Spain fell by 6.5% year-over-year to 52,322 units in August. Meanwhile, sales of electric passenger cars declined by 17.8% to 5,706 units, with electric vehicles capturing a market share of 10.91%, which is 1.5 percentage points lower compared to the same period last year.
Earlier this year, the electric version of the Chery Omoda 5 was officially launched in Spain and saw significant sales uptake. Amidst fierce price competition within China, Chinese automakers including Chery, BYD, and Geely are now expanding into the European market. However, new EU tariffs on imported Chinese electric vehicles have exacerbated an already sluggish market.
Chery Automobile is positioning Spain as a crucial base for its broader European expansion. The company aims to start production of the Chery Omoda 5 electric SUV at a former Nissan factory near the Barcelona freight port by the end of this year. This strategic move will help Chery avoid EU tariffs. Additionally, the automaker is exploring locations for its second European plant.
According to the Spanish Association of Automobile and Truck Manufacturers (Anfac), Chery Omoda sold 744 new cars in Spain this August, marking an astounding 8,167% increase compared to the same period last year when only 9 units were sold. Currently, Chery Omoda offers the gasoline-powered Omoda 5 SUV at a price of €28,000 (approximately $30,900) and a more expensive electric version.
In contrast, Anfac reported that American electric vehicle manufacturer Tesla sold 549 new cars in Spain last month, while Jeep and Fiat sold 532 and 305 new cars respectively.
From an industry-wide perspective, Anfac data reveals that passenger car sales in Spain fell by 6.5% year-over-year to 52,322 units in August. Meanwhile, sales of electric passenger cars declined by 17.8% to 5,706 units, with electric vehicles capturing a market share of 10.91%, which is 1.5 percentage points lower compared to the same period last year.
Earlier this year, the electric version of the Chery Omoda 5 was officially launched in Spain and saw significant sales uptake. Amidst fierce price competition within China, Chinese automakers including Chery, BYD, and Geely are now expanding into the European market. However, new EU tariffs on imported Chinese electric vehicles have exacerbated an already sluggish market.
Chery Automobile is positioning Spain as a crucial base for its broader European expansion. The company aims to start production of the Chery Omoda 5 electric SUV at a former Nissan factory near the Barcelona freight port by the end of this year. This strategic move will help Chery avoid EU tariffs. Additionally, the automaker is exploring locations for its second European plant.
