Ever since the early 21st century, Chinese car brands have been trying to increase their influence outside the domestic market. In recent years this Chinese dream is really becoming true, with companies such as Aiways, BYD and Nio who have been making significant strides in the European market and have expanded their presence on the continent:
- In Belgium, there has been a growth of 99% of Chinese car brands over the last year.
- In Germany, Chinese car brands experienced an exponential growth of 794% over the past two years.
Chinese car brands attempt to win over European customers by developing a brand strategy that corresponds with European consumers' needs. The question now arises whether these efforts are enough to overcome initial skepticism from European consumers (e.g. safety standards and quality) and other barriers (e.g. no dealership network) to further expand the growth of the dragon on wheels on European soil?
With GfK SinoMobility Compass, we therefore delve deeper into the following topics:
- Will this (Chinese) growth be maintained?
- Is the European consumer ready to adopt Chinese cars?
- Should established brands fear the Chinese brands?
- Which car brands are most at risk?
Contact us now to receive more insights about the imminent rise of Chinese car brands on the European automotive market by filling in the form!
