[News] Automotive, new market strategies in China
[source: Il Sole 24 Ore, 6th September 2019]
Despite a car sales slowdown started in 2018 (-2.8%), China is now the world’s leading automotive country. Out of a total of 93.5 million vehicles sold in the world last year, Chinese market accounted for just under a third, with 28.08 million.
The cars sold in China are for the most part built locally by Chinese manufacturers, but foreign brands are appearing more and more often.
In fact, Chinese companies are buying Western technologies and brands (such as the Chinese giant Geely that bought Volvo) to climb positions on the market. In fact, the Dragon builders lack important brands with a stable and prestigious image.
A seminar on the automotive sector in September
In addition to China, one of the markets to know for the automotive sector is definitely Russia. To find out more about this, we invite you at the seminar “The automotive sector in Russia: opportunities for Italian companies” on Tuesday, September 24th in Milan. Registration open until September 19th.