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Article Date: 15 May 2019
Meeting comes as ASE Global explores opportunities for the automotive industry in China
ASE Global, the automotive industry advisor, was delighted to recently welcome Minister Counsellor Ms Bao Ling, the Head of the Commercial Section at the Chinese Embassy to the UK, to its’ global Head Office in Manchester. Minister Counsellor Bao met with Mike Jones, Chairman of ASE Global, to discuss how the company is rapidly expanding across China and exploring opportunities for the automotive industry within that country, as well as examining the potential for Chinese manufacturers around the world.
China is the world’s largest automotive market with approximately 28.1 million cars being sold there in 2018, but it is also still a significantly under served market with only 141 vehicles per 1,000 inhabitants and 68% of the population first time car buyers. It is also leading on the adoption of electric vehicles (EV) with 60% of the world’s sales and nearly 760,000 units sold in 2018[1]. Whilst the market has been slower in recent months, the latest Shanghai Automotive Show in April indicated a renewed interest in the Chinese market[2] among automotive manufacturers and the Chinese Government is keen to support the expansion of the market[3]. This presents significant opportunities for automotive companies looking to expand their presence in China, but equally it is a major opportunity for Chinese manufacturers to grow internationally as the country can capitalise on its leadership in EV innovation, in areas such as battery research.
“We were delighted to welcome Minister Counsellor Ms Bao Ling to our headquarters as China is a priority market for us, because there is a growing demand for advisory services as companies look to explore opportunities there,” said Mike Jones, Chairman, ASE Global. “We have ambitious plans to expand our presence in the market, as we believe our data analysis expertise and global experience can help our clients navigate the vast and diverse market that is China and drive profitability.
It was very insightful to hear from Minister Counsellor Ms Bao Ling about commitments the Chinese Government is making to the automotive market and how it is looking to support its local manufacturers grow internationally.”
ASE Global currently has offices in Shanghai, China led by Ivy Yao, Country Director, Greater China, Japan and South Korea. The team acts as the bridge between dealers and automotive franchises providing a range of services including business management and benchmarking reporting, profitability modelling and forecasting and dealer performance auditing and validation.
Pictured above: the Chinese delegation at ASE-Global Manchester office.
[1] “China, a High-Potential Automotive Market for Groupe Renault,” François Provost, SVP Chairman of Asia-Pacific Region and CEO of DRAC, March 29th 2019
[2] “Why China’s auto market can bounce back,” Tom Hancock, Financial Times, April 21st 2019
[3] “Carmakers Look to Beijing to Revive China’s Slumping Auto Market,” Bloomberg News, April 17th 2019
For more information please contact Elizabeth.kenina@ase-global.com
