An increasing number of individuals in Germany are considering Chinese-made cars for their upcoming acquisitions.
Nowadays, it seems that more individuals in Germany than previously think about purchasing their upcoming vehicle from China. The management consulting agency Horvath from Stuttgart disclosed this on Thursday, saying that 37% of those questioned are taking this option into consideration. The trend extends beyond Germany, with Europe as a whole displaying a higher rate.
During the survey conducted in November 2023, 27% of Germans said they would take into account cars from China. That number had risen from 35% in the spring. This trend is aligned with the increasing acceptance of electric vehicles, explained the consultancy firm, with willingness to purchase them surging from 13% to 30% year over year. China serves as the primary competitor in this market.
What's most significant to potential Chinese car buyers is the attractive price and an impressive price-performance ratio. "Consumers are wary of issues such as quality, image, and data privacy," explained Horvath. Europe as a whole displays an even higher willingness to consider Chinese models at a whopping 48%, according to the study.
Brand recognition of Chinese automakers has also witnessed a substantial boost in Germany. 85% of respondents, compared to 70% the year prior, declared they could list at least one Chinese automaker brand. The most well-known auto manufacturer in Germany is BYD, with a staggering recognition rate of 54%.
To gather information on car purchase preferences and mobility trends, Horvath conducted its survey by asking 3,000 car owners from twelve European markets, the US, and China.
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- Interestingly, among the respondents in the survey, 37% have expressed an interest in considering Chinese-made cars for their next purchase, indicating a growing trend in Germany.
- When asked about their car purchase preferences in November 2023, a significant increase of 27% of Germans stated they would consider Chinese car models, a rise from 35% in the spring.
- The survey of 3,000 car owners from various countries, including Europe, the US, and China, revealed that Europe as a whole showcases an even higher percentage of individuals (48%) willing to view Chinese car models as a potential choice.
- In the context of increased consideration for Chinese cars, price and performance are essential factors for many potential buyers, as noted by the management consulting agency Horvath.
Source: www.ntv.de
