Chinese brands in some way have partially exceeded their foreign counterparts in terms of development and quality, according to Yan Gang, vice president of JAC Automobile Co., Ltd. and Lei Ping, vice president of Dongfeng Automobile Group Co., Ltd.
Yan and Lei made the comments at a panel discussion on upgrading China’s auto industry at the 9th China Automobile Bluebook Forum organized by Automotive Business Review (ABR) on May 5 in Beijing.
“Some have exceeded but some still lag behind,” commented Yan, who indicated that Chinese brands dominate the commercial vehicle, MPV and SUV spaces, accounting for about 60 percent of both the MPV and SUV markets, and many SUVs now sell for more than ¥130,000 ($18,895), ¥150,000, or even ¥180,000 as an indication of rising competitiveness of Chinese brands.
Lei, on the other hand, echoed Yan’s comments and indicated that Chinese brands can better meet Chinese consumer demands via differentiation. “For Dongfeng, before it was learning from our foreign partners, now it is about working together with them on joint development of new products,” said Lei. “We have both foreign and Chinese brand products that cater to differentiated needs of our customers.”
Yan stressed that in the path of upgrading its brand, JAC has focused on adopting advanced technologies, building product platforms and elevating speed of product development corresponding to market changes.
Lei, on the other hand, emphasized that in the future the competition will be on not what type of vehicle you provide but rather the type of service or solution to provide to the customers and satisfying them in terms of how they can use the vehicles conveniently.