In China's rapidly evolving car market, buyers place a higher value on intangible attributes, such as brand leadership and an aura of success, than on practical matters, such as fuel efficiency. For the domestic and foreign carmakers crowding into the field, success will require pinpointing exactly what the Chinese market wants—and associating those qualities with their brands.
The take-away
Carmakers should cultivate strong, emotional associations with their brands and help strengthen their dealers' sales and marketing capabilities. As China's markets evolve, car companies will need to pay close, ongoing attention to varying consumer preferences.
For free access to the full text of this article, including a downloadable version, . (Registration required on McKinseyQuarterly.com).