China, the world’s biggest car market, loves SUVs even more than the US and India. The Chinese buyer is spoiled for choice with over 400 SUV types, regardless of fuel preference. Manufacturers love playing cupid in this lovely tale.
Chinese SUV sales have been rising for a decade. According to Reuters, four out of 10 automobiles sold here are SUVs. This share is growing. All-electric SUVs are now the buzz, replacing petrol or diesel SUVs.
China now has 100 all-electric SUV models, up from 76 in 2020. Tesla’s Model Y and local EV firms Xpeng and Nio are extending body types. Volkswagen, BMW, and Toyota are aiming to expand their EV
portfolios in China and introduce electric SUVs.
The Sale Never Ends
Chinese vehicle buyers reign. The number of options and pricing battles are unprecedented. Many companies followed Tesla’s price cuts in this market. Geely’s premium EV brand Zeekr’s Zeekr X competes with established brands by delivering similar features and range at cheaper pricing. BYD Song Plus SUV costs $27,000, $1,000 less. Mercedes lowered model pricing this year. Others are trying too.
General Motors, which lost money in China, now focuses on EVs to recover. Ford, Tesla, and Renault are sending SUVs and other Chinese-made EVs to Europe.
With domestic Chinese players wanting to grow abroad, the conflict within China may spill over. Will cars—and SUVs—continue to fuel dreams?