Chinese consumers are proving as fickle as their counterparts in the United States, according to a new study by the Boston Consulting Group, and that may be good news for German car brands there.
Roughly 40% of the owners of cars from Chinese makers planning to trade their vehicle for a global or “foreign” brand said they intend to buy a Volkswagen model. Nearly 90% of foreign volume-brand owners who are trading up said they are likely to buy an Audi, BMW or Mercedes-Benz, according to the group, known as BCG.
China remains the world’s largest automobile market with sales expected to top 21 million units this year, dwarfing sales in the U.S., Western Europe and Japan, the industry’s traditional key markets. (more…)