Chinese Still Heavily Favor Foreign Cars, SAIC Chief Says

Chinese consumers will buy foreign-branded autos over a local make in more than three out of five cases, even if Chinese cars are made with the same quality and cost less, according to the country’s largest carmaker.

“It’s hard to change consumer perception,” Chen Hong, chairman of SAIC Motor Corp., said in Shanghai on Thursday. “I accept the criticism from shareholders and ask for more understanding.”