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Trans-China Automotive remains optimistic about China’s car market despite zero-Covid policy

Sharon See

Sharon See

Published Sun, Jul 17, 2022 · 04:40 PM
    • Last year, as the Covid-19 situation eased in China, TCA became a “beneficiary” of revenge spending, executive chairman Francis Tjia said. But 2022 presents a different picture with the arrival of the Omicron variant, which has triggered a seemingly endless cycle of lockdowns in multiple Chinese cities.
    • Last year, as the Covid-19 situation eased in China, TCA became a “beneficiary” of revenge spending, executive chairman Francis Tjia said. But 2022 presents a different picture with the arrival of the Omicron variant, which has triggered a seemingly endless cycle of lockdowns in multiple Chinese cities. PHOTO: TRANS-CHINA AUTOMOTIVE

    CHINESE premium car dealer Trans-China Automotive (TCA), which made its debut on the Catalist board 8 months ago, remains bullish about its prospects in the mainland despite China’s strict zero-Covid policy, and has no immediate plans to expand elsewhere.

    Speaking to The Business Times from Shenzhen, TCA executive chairman Francis Tjia said car ownership rates in China are about a quarter of that in North America and Western Europe.

    As the middle class continues to expand with the growing Chinese economy, he believes people will be buying cars in a “very similar fashion” to other developed economies.

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