Winning in China’s electric car market is no longer just about having the cheapest price. Despite new U.S. tariffs , the Chinese electric car industry is already moving into a new phase of competition no longer centered on sticker prices alone, many in the industry say. That’s good news for profit margins. But it also puts pressure on companies to make sure they are spending on developing the features consumers want. And that could sometimes be as simple as installing a sunroof, benefiting glass makers in the process. More than 80% of Chinese consumers surveyed by JPMorgan last month said they prefer an electric vehicle with a panoramic sunroof — and the majority are willing to pay more than 600 yuan ($84.50) to get one. Untapped market When it comes to those expansive panels, the market is largely untapped. Only about 12% of cars worldwide, including traditional fuel-powered vehicles, have a panoramic sunroof, JPMorgan analysts said in a report last week, citing late 2023 figures from Fuyao Glass . Hong Kong-listed Fuyao, a major supplier of glass for cars, is one of JPMorgan’s top picks to take advantage of China’s growing electric car market. The report said panoramic sunroofs accounted for about 7% of Fuyao’s total revenue in 2023. JPMorgan and a survey partner polled more than 2,500 consumers in Chi …
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[mwai_chat context=”Let’s have a discussion about this article:nnWinning in China’s electric car market is no longer just about having the cheapest price. Despite new U.S. tariffs , the Chinese electric car industry is already moving into a new phase of competition no longer centered on sticker prices alone, many in the industry say. That’s good news for profit margins. But it also puts pressure on companies to make sure they are spending on developing the features consumers want. And that could sometimes be as simple as installing a sunroof, benefiting glass makers in the process. More than 80% of Chinese consumers surveyed by JPMorgan last month said they prefer an electric vehicle with a panoramic sunroof — and the majority are willing to pay more than 600 yuan ($84.50) to get one. Untapped market When it comes to those expansive panels, the market is largely untapped. Only about 12% of cars worldwide, including traditional fuel-powered vehicles, have a panoramic sunroof, JPMorgan analysts said in a report last week, citing late 2023 figures from Fuyao Glass . Hong Kong-listed Fuyao, a major supplier of glass for cars, is one of JPMorgan’s top picks to take advantage of China’s growing electric car market. The report said panoramic sunroofs accounted for about 7% of Fuyao’s total revenue in 2023. JPMorgan and a survey partner polled more than 2,500 consumers in Chi …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
