Toyota Wants to Know – Chinese Car Buying Habits
Toyota and General Motors and Honda and Ford and every other car company wants to know the Chinese buying habits for new cars.
The answer is – "Nobody knows."
There are so many first time buyers that no patterns have been established.
There’s little brand awareness and no brand loyalty. How can you be loyal to something you never knew?
It costs the Chinese a little more than one year’s income (it can cost me that much, too here in the US) and 89% of the Chinese buyers pay cash! (I canNOT do that. Can you?)
Around half of Chinese buys rely on opinions of family and friends for their buying decision. So, not only do you have to convince the buyer, you have to convince their friends and family as well.
33% of Chinese rate engine and transmission performance as No. 1 priority as opposed to less than 20% of buyers in the US.
What!? You mean people don’t care about how the car performs here in the US? Something is wrong with me.
At any rate, to sell a car in China, to get the Chinese to make ANY major purchase – it is key to not only convince the direct buyer but also his/her family and friends – though those parties may not know a windshield wiper switch from the turn signal switch.
What do you think?
I wonder why does chinese buying cars matter? what are their reasons to buying cars? is it because 89% pay with all cash? Are chinese the highest percentage of people buying cars? I believe quality is what they look for..
Thanks for your comments.
I think Toyota and the other car manufacturers want to know their habits so they can sell MORE cars = more money.
Quality is good – but some people go for style and price, too.
It’s a big deal for Chinese to buy a car, it costs them way more than a year’s income, and one family (the rich ones) can afford only one car. That’s why you have to persuad their families – it’s not a personal decision, like here in the States, but a whole family’s.
Of course, it depends on the income of the family and person in question, too, right?
But can’t two families – working wife, and working husband + working parents (at least one of them) afford a car?
What do you think?
Yes Chinese people in big cities can afford cars made in their own country. The imported cars cost much more due to heavy import duty, which could be more than 100%.
I didn’t realize that duty for foreign cars was that much.
Then, why are sales so hot in China now?
It’s a mystery.
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