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Deals help Chinese seal car purchases
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Chinese consumers are becoming more sophisticated when it comes to buying a car and 77 percent take into account special deals offered before they buy, according to a survey released by research consultants TNS yesterday.
The findings of its Automotive Path to Purchase Study among 1,000 car buyers in China, done earlier this year, revealed that it took Chinese buyers an average of 14 weeks to decide to purchase a vehicle, up from 10 weeks in 2012.
The study also said that up to 77 percent of the respondents considered special promotions a deal clincher, up from just 39 percent last year.
Though “money for value” is the key, Guillaume Saint, managing director of Automotive Asia Pacific at TNS, noted that both Chinese and global car brands need to remember that discounting their prices too much will undermine their appeal to status-conscious Chinese shoppers.
“They have to walk a fine line between appealing to shoppers in search of a good deal and maintaining associations of wealth and luxury,” Saint said.
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