China Auto Manufacturers: Chinese Brands in W. Europe (June 2026)

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China Auto Manufacturers: Chinese Brands in W. Europe (June 2026)

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03 Aug 2026 05:17:00 ET │ 13 pages

China Auto Manufacturers

Chinese Brands in W. Europe (June 2026)

CITI'S TAKE

In this note we estimate Chinese PV brands’ market share gain and

concentrations movements in the Western European market with 3 key

conclusions: (1) Passenger vehicle (PV) market: Chinese brands Jun

market share grew +4.7ppt YoY (+0.2ppt MoM) to 12.8% (Fig 1), while Jeff ChungAC

German/other EU/Japanese/Korean brands saw -2.1/-1.7/-0.9/-0.4 ppt +852-2501-2787

market share loss. New energy vehicle (NEV) market: Chinese brands Jun jeff.m.chung@citi.com

market share grew +6.5ppt YoY (-0.2ppt MoM) to 23.8%, while

Kyle Wu German/other EU/Japanese/Korean brands saw -8.5/+1.9/+0.7/-0.1ppt

market share change. (2) Business competition is much looser in Western +852-2501-8483

kyle.wu@citi.com Europe where top-6 Chinese brands dominate 98% of Chinese mkt shares

pool compared to 65% concentration in China; (3)

Leapmotor/Chery/BYD/Xpeng volume growth have been much faster

than their Chinese peers which gives better 2H26 earnings visibility.

Chinese brands in W. Europe Summary (PV mkt shares gain, growth intact, top-5

concentration 95.4%) — Chinese brands Jun-26 PV sales volume in Western

Europe grew +78.0% YoY to 159.4k units and outperformed sector’s +12.3% YoY. On

mkt concentration analysis, top-5 Chinese brands captured 95.4% of all the

Chinese brands mkt shares which is similar to Jun-25 ratio; While top 3 Chinese

brands concentration ratio went down by -14ppt YoY mainly due to

Chery/Leapmotor’s relatively higher growth. Overall China brands captured 12.8% of

W. Europe Jun-26 PV sales mkt share (+4.7ppt YoY/+0.2ppt MoM) and eroded