In 2023, one in four cars produced worldwide was registered in China. This makes the People's Republic one of the most important sales markets. But changing customer expectations, a fierce price war and new players are preventing international carmakers from maintaining or even increasing their market share.
More and more Chinese technology companies are focusing on mobility, and local manufacturers are currently ahead of the game thanks to low prices and short development times, especially when it comes to the fast-growing hybrid and electric vehicles segment. As the market is likely to consolidate rapidly, it is crucial for international brands to catch up quickly. A thorough understanding of the new requirements is essential.
In China, a concept already prevalent in other markets is gaining ground: the car is being transformed from a commodity into an expression of personality. This emotional approach is redefining the demands for quality and comfort. In the age of electric mobility, Chinese customers are looking for products that are precisely tailored to different scenarios to create a holistic experience that always offers the perfect kind of convenience. They desire:
The experts from TD Reply have a deep understanding of the Chinese automotive market. The local team in Beijing can give you valuable insights into the country's culture. They use China Beats, an AI-powered social listing solution, to spot trends early. We can provide you with data-driven guidance in one of the world's most important markets and help you understand consumer behaviour.