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

Stephan Wollenstein, CEO of Volkswagen China, offers the new ID.6 Crozz electric car all through the Shanghai Global Automobile Marketplace Exhibition on April 19, 2021.

Hector Retamal | AFP | Getty Pictures

BEIJING — When it arrives to their preferred electric car brand, Chinese consumers’ best preference is Warren Buffett-backed BYD, according to a survey by Bernstein.

Elon Musk’s Tesla ranks second, and 3rd on the checklist is Germany’s Volkswagen, Bernstein explained. The business cited the hottest outcomes from a standard study of Chinese people in the third quarter of the previous number of many years. This year’s study, released Thursday, lined about 1,600 respondents.

Most of people surveyed lived in China’s much larger towns, with an regular age of 32 and every month profits of about 19,000 yuan ($2,969), the study company.

Approximately half the respondents explained they will take into consideration shopping for an electric powered motor vehicle for their subsequent car acquire, the report reported, noting buyer choices for lessen functioning prices, a far better driving experience and environmental friendliness.

Intent to purchase an electric car from a Chinese start out-up like Nio or Xpeng doubled this year to about 9.5% of those people surveyed, up from all around 5% for the last few a long time.

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Chinese start off-ups ranked very first in the “upper mass & premium” section of the electric car market place, which handles cars costing at least 150,000 yuan ($23,437). The upcoming most-favored in that section was Tesla, followed by quality German makes like BMW and Audi, the survey located.

But across cars of all classes, premium German models ranked initial, adopted by Japanese brand names Toyota, Honda, and Nissan, and Chinese brands such as BYD and Geely, the report reported. Electric car start-ups ranked sixth in this group.

China is the world’s major auto market place and several European car providers are earning the place the starting off level in their press into electric vehicles.