European car market | BYD enters top 10 in Greece's November auto sales

In November 2024, the Greek new car market saw a recovery in sales, with a year-on-year increase of 2% to 10,666 units.

Despite the overall market's modest growth, BYD, with the strong performance of its Dolphin model, broke into the top ten brands by sales with a 4.2% market share, becoming the biggest highlight.

We analyze the changing trends in the Greek car market from three aspects: brand competition and model performance, especially the emergence of Chinese brands in this market.

Overview of the Greek Car Market in November:

Brand Performance and Powertrain Trends

In November, the Greek car market ended a four-month consecutive decline in sales, with cumulative annual sales up 1.7% year-on-year to 128,371 units. The penetration rate of electric vehicles is gradually increasing, especially in urban areas.

● Brand Performance:

◎ Toyota topped the list with a 15.5% market share, up 88% year-on-year, demonstrating the strong competitiveness of its traditional fuel and hybrid vehicles.

◎ Volkswagen and Peugeot ranked second and third, with increases of 45.7% and 31.5%, respectively.

◎ Meanwhile, BYD made its debut in the top ten brands, breaking its record with 450 units sold and a 4.2% market share, marking a significant breakthrough for Chinese new energy brands in the Greek market.

● Among Chinese Brands:

◎ BYD was undoubtedly the biggest winner. The BYD Dolphin ranked fourth in the model sales chart with 275 units sold in a single month, winning consumer favor with its compact pure-electric positioning and high cost-performance ratio.

Additionally, another model, the Atto 3, ranked 21st, further consolidating BYD's competitive advantage in the new energy sector.

◎ Other Chinese brands performed relatively weakly. For example, Leapmotor and Lynk & Co had some sales but had not yet achieved scale effects.

In contrast, BYD's rapid rise not only demonstrates its product competitiveness but also reflects the precision of its strategy in the European market.

Model Sales Analysis and Market Competition Landscape

● Model Performance:

◎ The Toyota Yaris Cross led with 672 units sold, up 106.1% year-on-year.

◎ The Yaris followed closely in second place, showing Toyota's continued dominance in the compact car market.

◎ The Renault Clio ranked third with 323 units sold, demonstrating the resilience of European brands in the small car market.

◎ The BYD Dolphin's performance was particularly outstanding, with its 275 units sold quickly rising to fourth place, becoming one of the most favored new energy models among Greek consumers. This car, with its compact body, high cost-performance ratio, and reliable range, quickly gained market recognition, showcasing the strong impact of electric vehicles on traditional fuel vehicles.

● In terms of competition, the Greek market has a high concentration of brands.

◎ The top three brands—Toyota, Volkswagen, and Peugeot—accounted for nearly 30% of the market share.

◎ However, the gradual entry of Chinese brands is changing this landscape. BYD's successful entry highlights the potential of new energy vehicles in the European market, especially in markets dominated by traditional fuel and hybrid vehicles, where its pure-electric models stand out.

Summary

The Greek car market saw a recovery in sales in November 2024, but the growth momentum clearly came from the new energy sector, especially the rise of Chinese brands represented by BYD. From a sales structure perspective, Chinese brands are rapidly entering the market with cost-effective electric vehicles, gradually building competitive advantages.

With the introduction of more models and increasing consumer recognition of new energy vehicles, the performance of Chinese brands like BYD in the Greek and broader European markets is worth watching.