The chief executive of German carmaker Audi sees China as a key growth market for premium vehicles, despite rising competition and declining sales for other European brands.
The global market for luxury cars will “actually only grow in China from now on,” Gernot Döllner told dpa at the Beijing Motor Show on Friday.
In Döllner’s assessment, the Chinese premium market will grow by around 40% over the next 10 years. In the rest of the world, however, the luxury segment is set to stagnate, he added.
Döllner admitted that competition in China has become significantly tougher, with new Chinese manufacturers successfully positioning themselves in the sector.
He said Audi – a subsidiary of the Volkswagen Group – is “in the position of being something of a challenger and taking on the competition.”
Döllner acknowledged that the Ingolstadt-based carmaker still has some catching up to do in China.
Alongside its classic brand with the four rings, the company is also developing a new AUDI sister brand without the traditional logo in collaboration with Chinese partner SAIC.
The move to launch the new brand was a “very risky and very bold decision,” said Döllner, arguing that it is appealing to new customers.
Two areas will be particularly important in the future, the chief executive said: the digital experience in the car’s interior and automated driving.
“These are the main areas of innovation,” said Döllner. The next exciting race, starting in China, will also be the question of what role artificial intelligence will play in the vehicle, according to the Audi boss.