The emergence of this situation represents that luxury car brands focus on two aspects: the first is to further strengthen the product strength and increase the competitiveness of the same level in the inherent market segmentation; the second is to let small cars enter the 200,000 or so range through price sinking. Competitors will also make adjustments synchronously, in addition to luxury car competition, but also face the competitive pressure of high-end models of economic brands.
If our brand premium ability is not enough to make up for the shortcomings of the product itself, the competitiveness will be weak. So in such a competitive environment, what kind of changes should we make in product? For example, we are all doing the extension of wheelbase. We see that many of them are Class C and Class B. These models under 400,000, such as GLC and X1 extension, are actually adopting this product strategy.
The trend of product strength that Chinese customers are concerned about includes: higher demand for space and more comfortable back row space, but this may not be the case in the European market. At the same time, Chinese customers are demanding a high sense of technology, especially young people who want cars to be fun, which is different from the pursuit of pragmatism. Especially for luxury cars, the requirements of texture, assembly technology, materials, appearance design, interior and human-computer interaction are very high. We think these are some areas where the Chinese market is ahead of the world.
Therefore, we should further listen to the voice of China, in addition to the voice of Chinese customers, but also listen to the voice of industry competitors, and listen to the voice of industry and policy from China.
Now Alipay and WeChat payment has been very popular in China. There are more mobile phone navigation. Chinese consumers also pay more attention to the interconnection on the vehicle. For passengers, it is necessary to provide Wi-Fi on the vehicle, so that passengers can access more systems. These differences are very different from those abroad.
Including the launch of the new Jaguar XEL and the new generation Land Rover Range Rover aurora, our advancement in the field of intelligent technology is very obvious, such as 5-Screen human-computer interaction and high-definition ultra-wide-angle streaming media rearview mirror, which are in line with the preferences of Chinese consumers.
Damury: The entry-level standard of a car in Europe may be lower than that in China. This is because customers in the Chinese market have higher requirements for entry-level, which makes such a difference.
We now have a very large engineering team, more than 700 people, in such a team, we continue to bring more suitable models for the Chinese market. The teams work is to input voices from China into our models, and they work very closely with the British team, which enables us to launch products that are more compatible with the Chinese market on the basis of maintaining a pure British descent.
The whole process of vehicle design is like this: we will integrate the feedback information from the current Chinese market into the whole production design at the right time. For example, the car to be put into production three years later has now fed back the voice from the Chinese market to the design process of the model that will be produced three years later, so the design of this car will be more suitable for the Chinese market.