Carmakers bet on SUVs to ride out economic slowdown in China
Print Edition
WITH China’s auto market in the throes of a slowdown and annual growth rate expected to moderate to 7 percent — almost half of last year, the continued growth of sport-utility vehicle market is one of the few reasons that carmakers are keeping their spirits up at the Guangzhou Motor Show that opened yesterday.
New SUV models are the major draw at the last major auto exhibition in China this year. Over the past 10 months, sales of SUVs in China surged 33.6 percent on an annual basis, according to China Association of Automobile Manufacturers, which also made the overall sales prediction.
Even for a traditional sports car maker like Porsche, its best-selling model in China is an SUV, the Cayenne. Its latest version made its global debut yesterday with a restyled look and a slightly extended length.
Despite growing concerns about vehicle exhaust contributed by these gas guzzlers, the entire package — utility, comfort and style — make these cars an easy sell.
The newly unveiled Ford Edge is being promoted as a spacious and versatile seven-seater for both family and business use in China. In fact, most of the hot-selling SUVs are no longer derived from its original prototype — the hardcore pickup, and this evolution is all captured by their name, like the Qoros 3 City SUV.
Qoros 3, the first SUV rolled out by the joint venture between Chery and Israel Corp has been developed on an intelligent platform that also churns out sedans and hatchbacks.
Zeng Zhilin, research director of LMC Automotive for Asia-Pacific, said the elevated seating of SUVs alone is a strong selling point because it provides a better view of the road ahead and a sense of security and control amid traffic chaos.
Traveling in style is an add-on. Range Rover Evoque, a coupe-like crossover, has been a much sought-after item in the market for its debonair flair. The fact that it has recently become the first model to be locally produced by Land Rover, a SUV specialist brand known for its all-terrain capabilities, speaks a lot about China’s SUV preferences.
Chinese carmakers are also ramping up their own SUVs, despite few allegations of copies. A striking resemblance to the Range Rover Evoque is a joint development between local automakers Jiangling Motors and Changan Auto, the Landwind X7, which was premiered at the auto show.
Bob Grace, president of Jaguar Land Rover China, believes there is still plenty of room for growth. “With continued urbanization over the next 10 or 15 years, and the rise of disposable income levels, I am very confident that there is a big cake out here for a lot of carmakers to enjoy a reasonable share,” he said.
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