Chinese consumers pick favorite electric cars from China, US, Germany

Stephan Wollenstein, CEO of Volkswagen China, presents the new ID.6 Crozz electric powered car or truck for the duration of the Shanghai Intercontinental Automobile Marketplace Exhibition on April 19, 2021.

Hector Retamal | AFP | Getty Pictures

BEIJING — When it comes to their beloved electrical motor vehicle model, Chinese consumers’ best decision is Warren Buffett-backed BYD, in accordance to a survey by Bernstein.

Elon Musk’s Tesla ranks 2nd, and third on the listing is Germany’s Volkswagen, Bernstein stated. The organization cited the most up-to-date results from a common survey of Chinese individuals in the 3rd quarter of the past few decades. This year’s survey, produced Thursday, coated about 1,600 respondents.

Most of individuals surveyed lived in China’s greater cities, with an typical age of 32 and regular earnings of about 19,000 yuan ($2,969), the exploration firm.

Practically 50 percent the respondents explained they will think about purchasing an electric powered car for their following auto buy, the report said, noting customer tastes for decreased running costs, a superior driving experience and environmental friendliness.

Intent to obtain an electric vehicle from a Chinese start off-up like Nio or Xpeng doubled this year to about 9.5% of those surveyed, up from all-around 5% for the last handful of yrs.

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Chinese start off-ups rated 1st in the “upper mass & high quality” phase of the electric powered car or truck sector, which covers automobiles costing at least 150,000 yuan ($23,437). The following most-favored in that phase was Tesla, followed by quality German brands like BMW and Audi, the study located.

But across cars and trucks of all types, premium German brands rated to start with, followed by Japanese brands Toyota, Honda, and Nissan, and Chinese brand names like BYD and Geely, the report explained. Electric powered vehicle begin-ups rated sixth in this category.

China is the world’s largest vehicle market and quite a few European auto providers are making the country the setting up place in their drive into electric powered cars.