02 Feb New Cars in a New Economy: China’s Two Speed Car Market
CKGSB Knowledge, January 30, 2018
Like its whole economy, China’s auto market grew at a breakneck page in the 2000s, and while it is now slowing down, it still contains enormous potential in terms of both raw sales and innovation as China shifts towards electric.
Bill Russo’s quotes:
“China’s auto market is maturing”…He says slower growth is becoming the norm and sales increasingly skew towards new-energy vehicles and cars with high tech functionality, such as self-driving capabilities.
Russo echoed McKinsey’s findings. In addition to the disruptive forces identified by McKinsey, he says, “Hardware innovations, such as autonomous driving technology, will be commercialized through the development of on-demand mobility services and the larger digital ecosystems.”