Gasgoo.com - With their lower price point and increased drivability, while still maintaining the prestige of their bigger brothers, compact SUVs are the newest crazy in the Chinese automotive market. Analysts expect this segment to grow even further in the coming months.
According to statistics, a total of 1.82 million SUVs were sold in China over the first half of this year. The year-on-year sales growth rate for SUVs was an astounding 37.1 percent, far about the 5.3 percent growth rate for sedans. Among them, sales for compact SUVs priced under 200,000 RMB ($32,517) have been especially noteworthy. According to analysts, compact SUVs are seen as more individual and more diverse than their brethren, which has made them the first choice for younger buyers.
The Buick Enclave, Chevrolet Trax and Peugeot 2008 are among compact SUV models whose sales have increase dramatically over the past few months. They look to be soon joined by the Guangqi Honda Vezel, Beijing Hyundai ix25 and Dongfeng Citroën C-XR, among others. Chinese consumers have no shortage of choice when it comes to compact SUVs.
Guangqi Honda hopes to leap ahead of its competitors with the Vezel. The Vezel will be sold in two varieties: a 1.8 L powered variant carrying a price tag under 140,000 RMB ($22,762), and a 1.5 L entry level variant costing less than 130,000 RMB ($21,136). Guangqi Honda Deputy General Manager Zheng Heng summed up his expectations for the Vezel by saying that it represents the joint venture's commitment to the compact SUV market.
Guangqi Honda hopes that the Vezel's competitive price point and hip design will allow it to capture the hearts of consumers worldwide. After the Accord and the Fit, the Vezel if the third Honda to be sold worldwide. The 1.8 L version will makes its market debut at the end of next month, while its 1.5 L counterpart will follow later next year.