Chinese carmakers use Lexus playbook to go upscale amid rising incomes
With car sales surging, local manufacturers don't want to cede the higher-end demographic to foreign brands
Beijing
CHEAP is no longer chic for China's carmakers.
As more consumers aspire to buy cars and SUVs with some cachet, domestic companies want to shed their reputations as mass-market rides and go upscale with them. Great Wall Motor Co and Geely Automobile Holdings Ltd are unveiling new premium brands they want drivers to consider in the same league as a Lexus or Genesis.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
AirAsia discloses new listing plans under RM6.8 billion units merger