"We will return to competition" – Audi remains optimistic about the Chinese market despite price wars
According to Germany's N-TV television station: German automaker Audi believes that, despite intense competition and ongoing price wars in China, the world's largest automotive market still holds significant growth potential, enabling the company to "return to competition." To achieve this goal, Audi from Ingolstadt will rely on the E7X model, jointly developed with China's state-owned auto group SAIC, to re-enter the Chinese market.
"I believe German and European industry remain very strong," said Fermín Soneira, CEO of Audi’s joint venture with SAIC, ahead of the Beijing Auto Show opening. The Spanish executive stated that although the industry is currently going through a difficult period, "we have already returned, and we will re-establish ourselves firmly in the Chinese market."
The E7X unveiled at the auto show is an all-electric premium SUV tailored for the Chinese market, launched under the "AUDI" brand (using four capital letters instead of the traditional four-ring logo, a China-exclusive brand). It marks the second model introduced by this brand following the E5 Sportback.
Audi expects substantial growth potential in the coming years. Soneira pointed out that China currently has around 200 vehicles per thousand people, compared to approximately 600 in Europe. Future growth will primarily come from the electric vehicle and hybrid vehicle markets. However, this segment has long been highly competitive, with price wars being particularly intense, and weakening economic demand in China has further intensified pressure.
Soneira said: "I believe these price wars won’t truly end in the coming months." Regarding specific sales expectations for the E7X, he did not disclose details, citing the current complex geopolitical environment. The company plans to launch its third "AUDI" model next year.
Source: rfi
Original article: toutiao.com/article/1863100232937536/
Disclaimer: This article represents the personal views of the author