SHANGHAI/BERLIN : German automakers have turned up in full force at Shanghai's Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad.Their heavy presence - with the entire board of
SHANGHAI/BERLIN : German automakers have turned up in full force at Shanghai's Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad.
"A lot of features in our cars are inspired by China," Oliver Zipse, CEO of BMW, accompanied by his sales and technology chiefs, told a news conference, adding that the Chinese market was ahead of the global curve. While the battery-electric vehicle market share of German automakers in China is rising, it is still miniscule. The combined market share of the battery-electric vehicle market in China held by Audi, BMW, Volkswagen and Mercedes-Benz rose to 4.8 per cent in 2022 from 2.2 per cent in 2020, according to a Reuters analysis of sales data from the Chinese Association of Automobile Manufacturers. The EV sales of all four German brands added up to only a quarter of BYD's in 2022.
Analysts in Shanghai pointed to the tendency of German carmakers to market their new EVs as an electric version of their combustion-engine predecessors as a sign that the companies had not yet made the mental shift towards putting electrification first. Chinese brands have also adopted new sales strategies to make inroads in Europe which analysts said European legacy brands must learn from to keep up in the digital age.
"One of the key objectives of this strategy is to control the customer experience fully," McKinsey wrote in a December report.
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