BEIJING – China’s carmakers are hunting for their own “Yaris moment” — the ?kind of locally tailored breakthrough that helped Toyota conquer Europe — as they race to turn booming exports into lasting overseas growth.
After early attempts that largely involved exporting China-designed cars with minor tweaks, automakers are now re-engineering vehicles from the ground up for foreign buyers, driven as much by fierce margin pressure at home as by opportunity abroad.
China’s overcrowded domestic market has been locked in a bruising price war for years, leaving many manufacturers struggling to make money. Overseas markets, by contrast, offer room to grow — and to charge more — if Chinese brands can persuade consumers they understand local ?tastes.
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