Gasgoo Daily presents a selection of the latest developments from China's automotive industry. Here are the key stories in this edition.
Zhou Xiaoying: China's Auto Industry Enters a Critical Restructuring Phase
At the 14th Automobile & Environment Innovation Forum and the 8th Gasgoo Awards ceremony "China Solutions, Global Value", Gasgoo CEO and editor-in-chief Zhou Xiaoying shared her take on the industry's shift from scale to value. She said growth in sales volume is no longer translating into value creation, as the industry enters a period of structural change.
The gap between a cooling domestic market and strong overseas demand is widening. Across the industry, higher volumes aren't bringing in more revenue, and higher revenue isn't bringing in more profit. Export growth has helped, but it can't make up for weak profits at home. Zhou added that the four-year price war is still going. It has reshuffled market share, but it hasn't created lasting value—and it can't go on forever.
Fu Yuwu: Build China's Auto Industry Soft Power, Foster New Ecosystem & Value
Speaking on Oct. 23 at the 14th Automobile & Environment Innovation Forum and the 8th Gasgoo Awards ceremony "China Solutions, Global Value", Fu Yuwu, honorary chairman of both the Society of Automotive Engineers of China and the China Automotive Talent Research Association, said the industry must tackle critical technologies while also building its soft power. That will take closer collaboration between academia, research and industry to create a new ecosystem and new value.
Jetta M6 Hits the Market: A 35-Year-Old People's Car Brand Goes Electric
The Jetta M6 hit the market in Chengdu on Oct. 22. The 465 Pro, 555 Max and 555 Ultra are priced at ¥79,800, ¥89,800 and ¥99,800, respectively—all under ¥100,000. Jetta sums up its positioning in eight Chinese characters: "Under ¥100,000, fully equipped from the get-go."
The launch carries two big implications for Jetta. The M6 is the brand's first locally developed all-electric model and the first product from FAW-Volkswagen Jetta Technology Co. For a 35-year-old household name with 5.3 million customers, it marks the start of a new electric and smart-vehicle era, alongside its continued development of gas-powered cars.
For joint-venture brands as a whole, the M6 offers a way to fight back in the ¥100,000-and-under EV market, where Chinese brands have taken the lead: pair German quality with Chinese tech.
