Chinese Automakers Record Luxury Export Sale and Capture 12% of Spanish Car Market

Chinese automaker FAW sold the Hongqi Golden Sunflower sedan for $1.5 million (about 28 million MXN), making it the most expensive Chinese luxury car exported. The unused vehicle was exported through Dubai and bought by Stanislav Semenov of the Quantitative Trading Equal Fund. The Golden Sunflower features a V8 twin‑turbo engine, all‑wheel drive, a 32‑speaker Dynaudio system and extensive hand‑crafted interior work, positioning Hongqi against top European brands.

In the first half of 2024 Chinese car brands continued to expand in Europe, registering 75,500 vehicles in Spain—11.7% of total new‑car registrations. MG led the segment with 25,137 units, followed by BYD (22,860) and Omoda & Jaecoo (19,802). These three brands together accounted for 90% of Chinese sales and surpassed Toyota’s 55,229 registrations. BYD’s growth was driven by its electric and hybrid models, while MG’s success relied on the MG ZS and MG3 compact SUVs. The rise of Chinese manufacturers is reshaping the Spanish market, narrowing the gap with established European and Japanese brands.