The China Machinery Industry Federation has advised domestic automakers that they need to improve the quality of their products through better R&D and innovation to achieve a greater share of overseas markets.
Go deeper with GlobalData
According to the China Economic Net website, federation vice-president Zhang Xiaoyu told the 2006 China Automotive Development Forum that the present export volume is less important then brand structuring.
“Technology-intensive products will mean better profits and will help to build up a good reputation for the products, which will play a decisive role in [their final success] in the global market,” he said.
He also called on domestic manufacturers to focus on a few target markets rather than sending their products all over the world, and make greater efforts to improve after-sales service.
According to customs data, the price of a Chinese-made sedan was only $US7,039 on average in the global market during the first four months of this year, down from $9,161 last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
