Economics
Chinese Carmakers Branch Out in Bid to Rival Lexus
- Automakers create premium brands to squeeze foreign rivals
- Sales growing by 15 percent in world’s biggest car market
China Carmakers Shun Cheap for Chic
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Cheap is no longer chic for China’s automakers.
As more consumers aspire to buy cars and SUVs with some cachet, domestic companies want to shed their reputations as mass-market rides and go upscale with them. Great Wall Motor Co. and Geely Automobile Holdings Ltd. are unveiling new premium brands they want drivers to consider in the same league as a Lexus or Genesis.