Diversifying Chinese Auto Market Encourages New Strategies
This weekend is the 2013 Shanghai Auto Show, which is now one of the world’s most important platforms for automakers to showcase new models. The press has already been given a glimpse of what’s in store, and companies’ new reveals comprise numerous luxury as well as luxury alternative options.
On the luxury end, BMW is set to bring out its Concept X4 crossover, and Bugatti, Maserati, and Lamborghini are among the high-end carmakers unveiling new models.
Aspiring middle-class Chinese consumers are a growing focus of auto manufacturers as China’s auto market expands and diversifies. Ahead of this weekend, Mercedes-Benz revealed its new Concept GLA SUV, which Gizmag pegs as an “eco-conscious luxury alternative.” Cadillac, which will be showing its new CTS-V, has recently been upping its push into China’s market, with a new advertising campaign featuring Brad Pitt, plans to increase its number of dealerships, and the release of a new model every year until 2016.
Meanwhile, Chinese brands have faced a fair share of difficulty breaking into the luxury segment, but new joint projects featured at the show may prove more successful. Much-hyped Chinese-Israeli auto brand Qoros is making its Chinese debut with three models, and BMW held a pre-show press conference to officially unveil its new Chinese sub-brand that will be produced with joint-venture partner Brilliance.