In their first wave of cars for Europe and emerging markets, China’s carmakers used popular models from their home market and tweaked them for global consumption.
That has worked well for early sales, but industry experts say what the Chinese need is a ‘Yaris moment’ – a reference to the Toyota Yaris, designed for Europe and launched in 1999, it took the Japanese automaker’s sales to a new level.
As they rush to compete for overseas sales, major Chinese automakers are now taking a leaf from Toyota’s playbook, with hatchbacks for Europe and pickup trucks for consumers in markets like Australia, Mexico and Brazil.
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Hatchbacks, for instance, are a rare breed in China where big SUVs and minivans rule the roads.
But as BYD’s No. 2 executive Stella Li points out, they make up a large chunk of sales in some European markets and if the carmaker doesn’t play in that segment, “we lose.”