2019中国汽车车主消费者洞察研究分析.pdfVIP

Greater China Automotive Assembly Practice McKinsey China Auto Consumer Insights 2019 Navigating the road ahead in the world’s largest auto market October 2019 Executive Summary As slowing economic growth becomes the new norm in China, the domestic passenger vehicle market has bid farewell to years of high-speed growth and entered a new phase of development. This era is characterized by falling overall sales, but we believe this is more a pause for breath than the end of the road, as the potential for growth remains strong, and the future of China’s automotive industry is bright. After all, China remains the world’s largest automotive market, and exhibits strong demand from prospective and existing car owners, both for new cars and, increasingly, used vehicles as well. In the short-term, automakers in China face unprecedented challenges in adapting their strategies, and managing their brands, to ensure they are in position to capitalize as and when the market rebounds. Competition is intensifying, narrowing the opportunities for weak and challenger brands. Meanwhile, the proportion of first-time car buyers is declining, so that automakers must attract and maintain the loyalty of existing car owners as they become an increasingly important fulcrum of growth. Automotive companies also face an urgent task in reframing their approach towards autonomous, connected, electric, and shared (ACES) vehicles and technology if they are to evolve sustainable business models. When it comes to connected car features and autonomous functions in particular, our research suggests consumers are not yet willing to pay premiums that are commensurate with their development costs. In order to successfully negotiate this historic transition, executives of both foreign and domestic automotive companies must strive harder to understand their customers, and communicate their brands’ advantages. The McKinsey 2019 China Auto Consumer Insights Survey, upon which thi