Paving the Way to Sustainable Profit
A new recent report jointly authored by China Association of Automobile Manufacturers (CAAM) and Nielsen identifies four key innovative strategies to help automobile companies better meet the evolving needs of today’s changing Chinese consumers:
- Product Innovation: Sedans are still the most widespread vehicle among Chinese consumers, SUVs, however, will loom large in the coming years. Besides, MPVs and coupes are also catching up, according to the joint report.
- Technology Innovation: The joint study by CAAM and Nielsen revealed a welcoming attitude toward vehicle intelligence systems, with nearly 40 percent of Chinese consumers aspiring to own a “connected car.” In this regard, automobile manufactures who are putting effort into the development of vehicle telematics have a better chance to succeed in the big data era.
- Marketing innovation: The rapid growth of China’s E-commerce market is also reflected in China’s automobile industry, with four out of ten consumers (43%) considering buying cars online. Meantime, one-stop services” remain the most expected services among Chinese consumers for their online car purchases.
- Brand innovation: Improving the consumer experience of each touch point is the key for China’s home-grown brands to further improve its brand image in the future.
For more information, please download the whitepaper titled Paving the Way to Sustainable Profit.