If the cars come from China, they have to be extremely cheap, because drivers are willing to throw money at them, a new study shows.
A survey of European car buyers shows that many are skeptical about electric cars from China. However, a majority would consider buying a Chinese electric car if the price is low enough.
For the same reason, European car brands should be particularly vigilant against competition from China, according to data analysis company Escalent, which conducted the study.
The survey asked about the attitudes of potential car buyers in France, Germany, Italy, Spain and England.
The results show that the expectation of lower prices for Chinese electric cars is widespread. 72 percent of respondents expect Chinese cars to be cheaper than everything else.
Young car buyers are generally more positive about Chinese electric cars. The age group up to 35 years old believes that Chinese cars should be at least 10 percent cheaper than competing brands to be attractive.
About a third of respondents would consider buying a Chinese electric car if the price was 11-20 percent lower than the general price level. However, there is also a significant proportion who are not interested, regardless of the price.
The results suggest that price is a key factor in whether consumers will consider Chinese electric cars. However, it is not certain that Chinese manufacturers can offer prices as low as suggested in the study.
On the other hand, Boosted has already reported that a brand like BYD is jacking up the price considerably in Europe. At least when it comes to the same cars back home in China.Read more about it here .
Other results from the study show that:
- Interest in Chinese cars is greatest in Spain and Italy.
- Awareness of Chinese car brands such as MG and BYD is increasing.
- Younger car buyers are most familiar with brands like Xiaomi, Nio and Chery, while older generations are more often familiar with MG and BYD.
- BYD has experienced a positive development. Probably due to marketing.
The study shows that there is potential for Chinese electric cars in the European market, but that price is a decisive factor. At the same time, there is a certain skepticism among consumers that manufacturers must overcome.
