Chinese Automotive Industry grew at the 22% CAGR in year 2005 to 2014. It overtook the biggest car market USA in 2010. By 2020 as per ACG forecast it would touch 21million bigger than European market.
Like India, Chinese purchase behavior is different, currently second time buyers are more than first time buyers and they are interested to take budget (Upgrade) segment car. The buying sentiments and habits are different in different region, Segment and body type. The Chinese auto market drivers are giving positive signals to like urbanization, increasing household income, Infrastructure, Spending nature and penetration rates.
Car and Commercial vehicle market are two most important segment in China for foreign players like MAN, DAF, Scania, Volkswagen, General Motors, Ford, Audi, Mercedes, Renault, Peugeot, Landrover, Volvo etc. Market, Products, Pricing, Technology, Economy are some of the important factors but on the other hand there is one more important parameter which impact on entry and survival for any business in China. Intercultural management and negotiation are also very sensitive and important for any company which entered to planning to enter in Chinese market. This is real Business case study but we have changed the persons and Companies name.
Source: Autobei
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