BEIJING ¨C China's carmakers are hunting for their own "Yaris moment" ¡ª the ?kind of locally tailored breakthrough that helped Toyota conquer Europe ¡ª 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 ¡ª and to charge more ¡ª if Chinese brands can persuade consumers they understand local ?tastes.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.