Marques fight back in China

Marques from across Japan and Europe have pulled the wraps off a number of new models and concepts in China as they seek to reclaim some of the market share that has been lost to domestic brands.

Volkswagen, General Motors, Toyota, Nissan, Honda and Mazda were among those seeking to grab the attention of Chinese consumers by showcasing their latest offerings at the 2024 Beijing International Automotive Exhibition.

Those carmakers are also keen to develop partnerships with their Chinese counterparts to gain quicker access to technology that has boosted brands there such as BYD, Changan, Geely, Aion and Li Auto, reports Automotive News Europe.

Foreign marques’ share of the Chinese new-vehicle market dropped 6.5 per cent in March to a new low of 40 per cent, according to data from the bank UBS.

Nissan has been one of the hardest hit and Makoto Uchida, chief executive officer, says competition from domestic brands has transformed the Chinese market.

The company unveiled three physical concepts at the Beijing event and plans to launch eight battery electric vehicles (BEVs) or plug-in hybrid vehicles (PHEVs) in China by 2026, reports Automotive News Europe.

Volkswagen showed off a full-electric SUV concept packed with technology “specifically geared towards the needs and wishes of our Chinese customers” at the exhibition held over late April and early May.

General Motors showed two new concepts for its Buick brand, and Mazda revealed the new EZ-6 full-electric and plug-in hybrid midsize sedan, pictured, due to go on sale at the end of the year.

Honda unveiled a battery-electric hatchback it hopes will compete with the Tesla Model 3 sedan and also delivered a preview of its Ye sub-brand for electric models.

Meanwhile, Toyota has tapped into joint ventures with Chinese companies and had two new electric models on show in Beijing – one was a low-slung crossover and the other a larger SUV.