Automakers are pinning their hopes on China, the world’s biggest car market. But there’s a growing hurdle: China’s own-brand cars.
Of every ten vehicles sold in China, only four currently bear a Chinese logo. But the number will rise to five or six by 2015, says the head of the Guangzhou Automobile, the Chinese joint venture partner of Honda and Toyota. And his company is now preparing to launch its first own-brand car, the Trumpchi.
Zhang Fangyou, chairman of Guangzhou Automobile (GAC), said Chinese consumers are now more inclined to buy Chinese own-brand cars because of their improved technology, better design and, perhaps most importantly, price difference.
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