Chinese consumers choose their favorite electric vehicles from China, USA, Germany

Stephan Wollenstein, CEO of Volkswagen China, unveils the new ID.6 Crozz electric vehicle at the Shanghai International Auto Show on April 19, 2021.

Hector Retamal | AFP | Getty Images

BEIJING. According to a Bernstein poll, when it comes to their favorite electric vehicle brand, Chinese consumers choose BYD, backed by Warren Buffett.

According to Bernstein, Elon Musk’s Tesla ranks second, and the German Volkswagen is third on the list. The company cited the latest results from a regular survey of Chinese consumers in the third quarter of the past several years. This year’s poll, published on Thursday, reached about 1,600 respondents.

The majority of those surveyed lived in major cities in China, their average age was 32, and their monthly income was about 19,000 yuan ($ 2,969), according to the research firm.

The report says that nearly half of the respondents said they would consider buying an electric vehicle for their next car purchase, citing consumer preferences for lower operating costs, better driving experience, and environmental friendliness.

Intentions to buy an electric car from a Chinese startup like Nio or Xpeng have doubled this year to about 9.5% of those surveyed, up from about 5% in the past few years.

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Chinese start-ups rank first in the upper mass and premium segment of the electric vehicle market, which encompasses vehicles priced at least RMB 150,000 (US $ 23,437). Tesla was next in popularity in this segment, followed by premium German brands such as BMW and Audi.

But among vehicles of all categories, German premium brands rank first, followed by Japanese brands Toyota, Honda and Nissan, as well as Chinese brands including BYD and Geely, the report said. Electric vehicle startups ranked sixth in this category.

China is the largest auto market in the world and many European auto companies are making this country a starting point in their advancement in the field of electric vehicles.

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