by:Y&M Crafts     2019-09-08
This year\'s Shanghai auto show highlights competition in the global auto industry, and Chinese drivers want to buy electric cars as Beijing cancels subsidies to boost sales.
Communist leaders are shifting the burden to automakers, imposing mandatory sales targets on electrical appliances, adding financial pressure on them in a painful sales slump.
Pure Chinese procurement-
Electric and hybrid cars and SUVs soared 60% last year to one.
Global car sales totaled 3 million, but total car sales shrank by four. 1% to 23. 7 million.
Subsidies reached 50,000 yuan, attracting buyers of electrical appliances ($7,400)
But that support was halved in January and ended next year.
Paul Gong, industry analyst at UBS, said: \"The competition is becoming more and more fierce . \"
Communist Party leaders have been promoting electronic products for 15 years, hoping to clear the smog.
Killing Chinese cities and gaining an early lead in this promising industry.
Global giants such as GM, Volkswagen and Nissan are developing models suitable for Chinese tastes.
They have money and technology, but local competitors have experience: brands including BYD and BAIC have been selling at low prices.
Electrical prices for ten years.
At the Shanghai auto show, which opened to the public on Saturday, automakers plan to showcase dozens of electric vehicles, from luxury SUVs to micro-cars.
A contract priced below $10,000.
Their goal is to compete with gasoline.
Models that provide power in performance, cost and appearance.
By the end of next year, \"it will be difficult for customers to decide against electric vehicles,\" said Herbert Deiss, CEO of Volkswagen.
\"These cars will provide spacious, space and fast charging,\" Diess said during a visit to Beijing in January . \".
They will look excited.
\"Automakers want China, their biggest global market, to drive revenue growth while the US economy grows. S.
Demand in Europe is flat or falling.
This encouraged them to cooperate with the electronics promotion activities in Beijing.
General Motors this week
Is the first one.
Electric car models in Buick China
Only the Velite series includes hybrid cars based on the Chevrolet Volt.
As part of the launch of 50 electric vehicle models by 2025, Volkswagen will present a concept SUV. Nissan Motor Company
Its Chinese partners will show zero emissions from Xuanyi
Electric models designed for China, which went public in August.
BYD cars will be on display
Electric cars with an advertising range of 400 (250 miles)on one charge.
UBS\'s Gong said the pressure to transition to Electrical was \"not so much a threat as an opportunity\" for Chinese automakers \".
Late arrival of gasoline
Gong said electric vehicles of Chinese brands account for only 10% of global sales, mainly low-cost models.
But they account for 50% of global electricity sales.
\"In the field of electric vehicles, Chinese companies started earlier and responded faster,\" Gong said . \"
The ruling Communist Party spent billions on research grants and incentives for buyers. State-
China has 730,000 charging stations, much larger than any other country.
Meanwhile, automakers are working to restore sales of traditional SUVs, minivans and sedans, which fell for the first time in 30 years.
The tariff war with Washington and weak economic growth have made nervous consumers reluctant to commit to mass purchases.
This has worsened this year. First-
Quarterly sales shrank by 13.
Growth of 7% year on year.
Still, industry insiders say China\'s car sales will reach 30 million vehicles a year by 2025.
After a 37% drop in sales in 2018, Ford restarted its business in China this year.
The company accused the product lineup of aging.
Global brands are connecting with Chinese partnersCost production.
Ford has an electric joint venture with Zotye Auto.
GM and its Chinese partners plan to launch 10 electric vehicles next year.
Mercedes-Benz has partnered with BYD to launch the Denza brand.
Volkswagen\'s electric joint venture, Sol, began selling an SUV last year.
Under the new system, automakers will have to earn points on electrical sales equivalent to at least 10% this year and 12% in 2020.
Insufficient automakers can buy credit from competitors that exceed their target.
Regulators say the target will rise later.
In China, the price of electric cars is still higher than that of gasoline models.
But the cost of charging and maintenance is lower.
Industry analysts say car owners who drive at least 16,000 kilometers (10,000 miles)
In the long run, one year can save money.
Great Wall Motor, China\'s largest SUV brand, responded to sales quotas by launching an electric brand Ola.
Although its R1 compact car looks like a toy next to the bulky suv of the Great Wall, it went public in December and sold for as low as 59,800 yuan ($8,950)
After subsidies.
To stimulate competition, Beijing last year lifted ownership restrictions on electric car manufacturers. Tesla Ltd.
In response, the company announced plans to build its first plant outside the United States in Shanghai.
Official ambitions conflict with the Chinese public\'s love for large SUVs, which are seen as the safest option on crowded, bumpy streets.
But emotions are changing.
According to a UBS survey, 71% of Chinese buyers are willing to try electric cars, up from 58% a year ago.
Unemployment is below 20% in the United States and Europe.
\"In China, the willingness of customers is always higher,\" Gong said . \".
Associated Press copyright 2019.
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