Chinese Automakers a Decade Away From Being Global: Report
Despite having made impressive jumps in recent years, the Chinese automotive industry is believed to still be a decade away from being globally competitive.
According to research firm Sanford C. Bernstein & Co., the Chinese automakers will have to increase their spending on research and development to help close the gap. The firm believes that “the Chinese are 80 percent there, 20 percent doesn’t sound very hard, but it’s probably the most complex bits to get right.”
In recent years, Chinese automakers have been losing ground in their home market as foreign automakers continue to increase local production. In addition, many automakers are releasing entry-level models, lower-priced to target specifically the general population in China.
[Source: The Truth About Cars]
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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