Thursday, November 28, 2013

Chinese and American Car preferences are similar

Car manufacturers have always struggled with creating models that fit into all parts of the world without major modifications. However, while the U.S. and Europe are the largest markets for the automobile industry, consumers from both of these geographic areas have different tastes. It has therefore been very difficult to introduce a car that appeals to all without drastic modifications done to the car.
With China as an emerging and prosperous economy, it has come to the surprise of car manufacturers that American and Chinese car tastes are similar. This in turn has enabled some U.S. car manufacturers to walk away from the challenge of a "one car model fits all" for U.S. and Europe, and instead apply that technique to U.S. and Chinese markets.
One such manufacturer is Lincoln who is planning on introducing the MKC in the coming months both to China as well as the U.S. markets. While Lincoln is mainly known for bulky luxury SUVs and sedans, the MKC is more of a compact vehicle. It seems to be a perfect combination for both markets and requires only minor modifications depending on the market.
I find that it is very innovative that car manufacturers are able to take advantage these trends and similar tastes. I think it would be a great option to move much of their efforts in creating brands that appeal to the Chinese market, instead of focusing so much on the European market. The European car industry while it is large, has seen a constant decline over the past years. I personally predict that the MKC will be a great success in China.

http://search.proquest.com.ezproxy.stthom.edu:2048/wallstreetjournal/docview/1450110111/142079BABA667553ABB/19?accountid=7115

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