AutoPacific Study: Americans Willing to Consider Chinese/Indian Brands
July 28, 2009
| |
TUSTIN, Calif. — A new study by AutoPacific shows that Americans may embrace Chinese and Indian auto brands to a degree similar to how they have welcomed Korean brands.
The new study, "Opportunity for Chinese and Indian Brands in the USA," surveyed more than 30,000 new-car and truck buyers. Interestingly enough, 15 percent said they would consider buying a car from China and 11 percent from India, without knowing the specific brands or vehicles.
Additionally, 16 percent said they would consider a vehicle from Korea which has, as many know, been marketing vehicles in the U.S. since the 1980s, according to AutoPacific.
"As Hyundai and Kia have been on the American scene for decades now, it's surprising that consideration for Chinese and Indian brands, sight unseen, would be about as strong as it is for the Korean brands," said George Peterson, president of automotive research for AutoPacific and author of the study.
"However, with so many premium and high-tech, non-automotive products already being made in China and purchased by Americans, why not automobiles too?" he asked.
The study showed that those willing to consider both Chinese and Indian brands consisted of ‘highly desirable buyers' who would be ‘coveted' by any manufacturer. They tend to be young, well-educated and affluent for their age and have good jobs in administrative, health care and middle-management positions, Peterson noted.
Additionally, the report revealed that Chinese and Indian prospects are more likely to currently own Japanese and Korean brands, an indication that they may have the most competition from new entries rather than domestic brands like Chrysler, Ford and General Motors.
Also, the company discovered that consumers willing to consider a Chinese or Indian vehicles rate reliability and durability high. On the other hand, they did not show as much interest in vehicle handling, braking and acceleration, according to AutoPacific.
"It appears that buyers in America are willing to give Chinese and Indian vehicles a chance right out of the box," Peterson said. "Understanding these consumers will be critically important to the success of any newcomer."
For more information, visit www.autopacific.com.
- The Advent, Advantage of New Technology in Recovery Industry
- OPENLANE, Carfax Partner to Help Dealers Sharpen Inventory
- KBB Trims Values on Recalled Toyota Vehicles, Discusses Broader Recall Implications
- Webb: Truck Segments Lead Year-over-Year Wholesale Gains
- Toyota Recall Makes Waves Throughout the Industry; How Will It End?
- Ford Issues Recall on Select Models