China Car Purchasing Process Market Report 2020
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Providing the most comprehensive and up-to-date information and analysis of the China Car Purchasing Process, including the behaviors, preferences and habits of the consumer.
Car owners’ desires for car upgrading remain strong, making for promising market prospects even in the post-COVID-19 period. Consumers are constantly seeking better experiences through upgrading in various aspects, including but not limited to higherend brands. Meanwhile, car owners are becoming more rational across the car purchasing process and are more inclined to take a comprehensive consideration of different factors. It is becoming increasingly important for brands to leave outstanding and enduring impressions on consumers.
Having new options of information channels such as short video platforms, car owners’ lifestyles of getting car brands’ information are changing. To optimise the marketing strategies and stand out from others amid fierce competition, brands need to examine the effectiveness of different information channels in building brand images, understand consumers’ pain points across car purchase decisions and identify their demands for upgrading aspects.
Read on to discover more details or take a look at all of our China Automotive market research.
Written by Gloria Ghan, a leading analyst in the Automotive sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Only less than 40% car owners purchase their cars within the original budgets, while the majority pay extra for better configuration or upper models on car purchase. Such willingness to upgrade stays strong, as over 70% of surveyed car-owners state that upgrading is essential for the next car even under the impact of COVID-19.
Meanwhile, with increasingly diversified models and options available, consumers find it more difficult to tell the differences, and even have a sense of aesthetic fatigue towards car designs. As a result, body type and energy type become the first consideration factor in the purchase process even for the high-end price range, rather than brand preferences. How to build a memorable brand identity remains as one of the crucial issues. Many brands have been exploring new approaches, including delivering messages on video platforms, to catch up with the consumers’ evolving habits and interests.
Gloria Ghan
Automotive Analyst
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