Like its whole economy, China’s auto market grew at breakneck pace in the 2000s, and while it is slowing down, it still contains enormous potential in terms of both raw sales and innovation as China shifts toward electric. The Chinese government is actively promoting new-energy vehicles, offering subsidies that amount to about 23% of the price of a vehicle. And consumers, many of whom no longer consider car ownership as a status symbol, are more willing to buy electric cars. Yet despite favorable policies and growing market demand, there are challenges ahead: lack of power stations, fragmented manufacturing of power batteries and insufficient innovation.
As awareness increases, Chinese consumers are taking to electric vehicles. But just how evolved is the Chinese electric car industry?
The slowing auto market is reshaping the automobile industry in China.
Infiniti, a relatively new entrant in China’s luxury automobile sector, is growing at a phenomenal pace. Daniel Kirchert, MD, Infiniti China, talks of the company’s China strategy, competition with the German car makers, and the need to become a ‘social topic’ in China.
In the face of luxury push-back from China’s government and hyper competition for luxury car consumers, how is Ferrari tuning its China message? 2013 was not luxury’s finest year in China. The government shamed any and all ostentatious displays of wealth and decadence, and Chinese consumers are now backing off the luxury buying frenzy that […]
China’s pollution problem has reached apocalyptic levels, which is great news for smart companies that have found a business opportunity in it. Wang Bin browses a selection of facemasks at a supermarket in central Beijing. After scanning several different styles, he picks out an intimidating, thick mask made by 3M, an American conglomerate. He’s buying […]
Will the ‘fair price’ strategy help electric car manufacturer Tesla in China? Elon Musk, the maverick founder and CEO of the Silicon Valley-headquartered electric car maker Tesla Motors, has had his eyes on China for a while now. Last year, he called the China market a “wild card” in the company’s future. In January this […]
US automobile major Ford is stepping on the gas in China, the world’s largest auto market. Can it catch up with rivals General Motors and Volkswagen? In December 2013, an enormous red dome appeared on the banks of the Huangpu river in Shanghai. Nearly 450 people converged under this dome, and watched spellbound as a […]
A decade ago, buying a car in China was no easy task. You normally went to a big market full of dozens, maybe hundreds, of independent sellers hawking an inconsistent variety of vehicles. You might then buy a car and later discover that it needed repairs, and return to the market only to find your […]