BYD "Grabs the Beachhead" in the European Cup, Chinese Car Companies Make Friends with Sports
Jun 21, 2024
The 2024 European Cup is in full swing, known as the "Little World Cup," representing the pinnacle of world football, attracting the attention of football fans globally. This passionate sports feast not only brings endless joy and glory to fans but also serves as an excellent stage for brands to showcase their strength and charm.
Notably, the European Cup has attracted the participation of Chinese brands, including BYD, which has secured a position as an official sponsor of the European Cup. The phrase "Chinese characters sweeping the European Cup" has also topped the search list, with the "Chinese content" setting a record and undoubtedly being a highlight of this edition of the European Cup.
It is reported that BYD has replaced the traditional automotive giant Volkswagen as the official partner of the 2024 European Cup. This is particularly noteworthy as Germany, the host of this European Cup, has seen BYD make history by becoming the first Chinese automobile brand to serve as the highest-level official automotive sponsor since the inception of the European Cup in 1958. Although the sponsorship amount for the 2024 European Cup has not been disclosed, it is roughly estimated that each sponsor's amount is at least 40-50 million euros based on past data.
During the 2024 European Cup, BYD not only enhances brand awareness through advertising exposure but also provides green travel services as the official vehicle for the event. In addition, BYD showcases several models at the competition venues and official fan squares, achieving zero-distance contact with European consumers.
As Chinese car manufacturers accelerate their layout and sales in the European market, establishing a good brand image has become particularly important. Therefore, Chinese car manufacturers have turned their attention to the field of sports, using investment and sponsorship of various sports events for brand exposure, strengthening communication and interaction with global consumers.
Before the start of the European Cup, the iconic figure of the English football team, Manchester City captain Kyle Walker, posted a photo on social media with BYD's Seal model, attracting widespread attention.
Additionally, it is reported that Chery Automobile is competing for the position of sleeve sponsor for Chelsea Football Club next season, with a sponsorship fee of 15 million pounds per year.
In March of this year, MG announced that it had become the main sponsor of the Goodwood Festival of Speed, an event that attracts car enthusiasts, manufacturers, and racers from around the world every year, capturing the attention of a global audience.
In February, Zeekr partnered with F1 driver Zhou Guanyu, who became the Chief Control Officer of the new Zeekr 001. Previously, F1 driver Kimi Räikkönen served as Zeekr's Chief Performance Consultant.
Moreover, many tire companies have entered the football industry, becoming sponsors of major top events or sponsoring internationally renowned teams and clubs, showcasing Chinese strength at passionate football events. For example, Zhongce Rubber has become the global official tire partner of the English Premier League's Arsenal Club, while Linglong Tires has partnered with Bundesliga's VfL Wolfsburg and Serie A's Juventus.
Recently, as the highest-level global sponsor of VfL Wolfsburg Football Club, Linglong Tires announced a three-year contract renewal with the club.
Car brands have always been the main force in sports marketing. However, the automotive category partners for international top events have previously been dominated by international car brands, such as Toyota's cooperation with the IOC and Hyundai's cooperation with FIFA.
This is because the audience of sports events is extensive, covering all ages and social strata. The broad audience base allows car companies to reach a wider range of potential consumers through sports marketing, expanding the brand's influence. Whether it's football, basketball, or racing, these popular sports can resonate widely. Through a series of sports event sponsorships or further sports marketing, it is expected to help Chinese car companies break through cultural differences and establish closer emotional connections with local consumers.
Currently, Chinese car exports to Europe are facing unprecedented challenges. On June 12, the European Commission announced that if discussions with China do not yield an effective solution, a temporary countervailing duty will be imposed on imported electric vehicles from China starting July 4.
Among them, BYD, Geely, and SAIC Motor will face tariffs of 17.4%, 20%, and 38.1% respectively. Other Chinese car companies that actively cooperate with the EU investigation will be subject to an average tariff of 21%, while those who do not actively cooperate will be uniformly subject to a 38.1% tariff.
Once the "tariff stick" falls, the development of Chinese car companies in Europe is bound to be affected. Against this backdrop, to reduce the impact and further increase sales, building brand influence is crucial. For Chinese car companies, by integrating their brand with local culture through sports marketing and other means, European consumers can more directly feel the charm of Chinese brands.
Many Chinese car companies have begun to increase their brand promotion efforts in the European market. They cooperate with European local sports events and cultural activities, combining brand image with European culture to attract more European consumers' attention. In addition, Chinese car companies also focus on building the after-sales service system in the European market, providing high-quality after-sales service to enhance consumers' trust in the brand.
It is worth noting that Europe is the stronghold of established car companies such as Volkswagen, Mercedes-Benz, BMW, Audi, and Porsche, and many European consumers are not familiar with foreign car brands. However, the leading development of Chinese automotive electrification is expected to pave a new path for Chinese car companies in the European market.
According to data from JATO Dynamics: In 2023, in the European market, the number of Chinese car brands registered was 323,000 units, a year-on-year increase of up to 79%, with a market share of 2.6%. Among them, MG sold more than 230,000 units, accounting for nearly 72% of the export volume to Europe, which shows the recognition of European users for MG.
As a leader in China's new energy automobile industry, BYD also has the same opportunity to shine on the European Cup field, allowing more overseas consumers to understand and recognize the advantages of Chinese new energy automobile brands.
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