Car production in the UK is on the decline, with rising costs and the slowing production of current model cars, we’re slowly seeing factories close. It’s true that some factories are closing with the view to repurpose them for electric vehicle (EV) production, but looking at the global car market, will they make it in time?
With the recent derailing of Elon Musk, Tesla has been feeling the fallout (rightly so) across the world – with recent statistics saying that sales have slumped by as much as 44% in Europe (again, rightly so). In the UK, however, Tesla sales increased by 21% in February.
Take that with a pinch of salt, though, as Volkswagen reported a 180% increase in EV sales in February, and Chinese brand BYD reported an increase of 94%. This means that, although their numbers on the road is increasing, Tesla’s market share in the UK is dropping. Brands such as Volkswagen, Polestar, Dacia, Renault, and more are filling the gap, but the ongoing war in Ukraine, and post-Brexit imports being more complicated, it’s fair game for non-EU brands to swoop in.
It’s not what one could call a well-kept secret, but Chinese brands have been storming ahead in the EV game in the past few years. New brands to the UK such as BYD, Jaecoo and Omoda are popping up across the country, and once-British-now-Chinese brands like MG having a resurgence too.
These new cars, and the technology inside them, could be considered best-in-class too – especially as BYD has recently announced 1MW chargers that can give you an 80% charge in just five minutes.
But, in my opinion, one biggest thing standing in the way of Chinese dominance in the EV markets: the stigma around the sticker reading “made in China”. Unfortunately, I think many people will see those three words and immediately dismiss it as cheap, poorly built, unreliable, or worst of all, come up with a wild conspiracy about how the Chinese government will be stealing your driving data.
So, do I think Chinese brands will be the next UK car superpower? In a word, no, but I do think they’ll be considered a “major player” soon enough. Brands like the aforementioned BYD and Omoda could well be common cars on the roads, but the fear of trying something new will drive customers to the arms of brands like Volkswagen and Renault – even if they’re more expensive.
It's also worth considering that the latest barrage of tariffs from President Trump (as well as his turbulent stance on EVs) could encourage Chinese manufacturers to divert their efforts away from America, and instead focus their attentions on the UK/EU markets.
Finally, it’s worth remembering the Great British past-time of saving a few quid here and there. When our beloved Sainsbury’s runs out of bread, do we learn how to make it ourselves, or do we just go to Tesco?