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Low-Cost Chinese Cars Making Restrained Entry to European Market
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Dealers who sold Japanese and Korean cars when they first launched in Europe and are familiar with selling unfamiliar names and models at lower prices are now launching the sales of Chinese cars in Europe. They pay in US $ and are paid by customers in euros and so have the advantage of higher profits because of the exchange difference. Global Insight's director of light vehicle forecasting is quoted her that the Chinese will master in 5 years what it took the Japanese and Koreans 15 years and ten years respectively. This shows that European makers will have less time to respond to more Asian competition and companies like Fiat have to have strategies to prepare for more competition at the lower price end.
Hyundai in the global market.
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Hyundai in markets in global markets other than USA.
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The other thing the Koreans are thinking of if they don't move upscale to Lexus type cars they risk being squeezed at the lowend by Chinese carmakers like Cherry.
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Wall Street Journal 04/29/2005
Low-Cost Chinese Cars Making Restrained Entry to European Market
New York Times 07/13/2007
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