Chinese EV makers are aggressively targeting the European market with extensive strategies and tactics.

From Investing.com: 2024-05-30 03:21:47

European automakers face stiff competition from Chinese electric vehicles in their home market. Chinese giants Byd, Chery, and Great Wall Motor are planning to launch around 20 new models in Europe over the next five years, targeting a range of price segments and investing heavily in sales and marketing. They are also focusing on building dealership networks and bolstering service operations to attract European customers. These Chinese automakers are backed by the government, allowing them to not have the same pressure as western rivals to turn a profit quickly. They are selling their vehicles in Europe at prices just slightly below comparable models from traditional automakers, while offering additional standard features. To appeal to European consumers, Chinese automakers are prioritizing safety, warranty structures, price repairs, and long-term service operations. They are focusing on increasing resale values, an important factor for consumers who lease vehicles. To combat the challenge of established legacy automakers, Chinese EV makers are expanding their brand presence through social media, sponsorship events, and partnerships with established dealer networks, working to increase their appeal to European customers. With their extensive strategies and range of tactics, Chinese automakers are aiming to disrupt the European auto market and challenge traditional players.



Read more at Investing.com: How China’s EV makers aim to beat Tesla, legacy automakers in Europe By Reuters