Insights on China's auto industry

The Global Automotive Forum 2014 held from Oct 16 to 17 in Wuhan, Hubei province, discussed the theme of transformation in China's automotive industry as leaders shared their insights on a series of topics.

China is the world's largest auto market yet Chinese brands and technology remain weak. Our traditional auto industry and businesses have to make up their mind because comprehensive transformation is the only way forward.

It is widely agreed that the transformation has entered a critical period and I am convinced that the auto industry will see changes that go beyond our imagination in the next five to 10 years.

Wang Xia, president of the Automotive Committee of the China Council for the Promotion of International Trade

We have tried online sales of smart models but online sales cannot replace brick-and-mortar shops at least for the time being.

We have many registered users but they do not pay deposits online. Also, the customers want to test drive and experience our models so they need traditional stores. I don't think that online sales will prevail soon.

Of course, we have our online platforms and we will go forward with the actual conditions.

Nicholas Speeks, president and CEO of Beijing Mercedes-Benz Sales Service Co Ltd

Vehicles in the future will be composed of four wheels, power and a computer. They will be as smart as humans.

Vehicles have gone through the mechanical era and the electronic era. Self-driving, smart ones will bring about a revolution by emancipating us from having to hold the steering wheel and put on the brake. This has long been my dream.

Li Shufu, chairman of Zhejiang Geely Holding Group Co Ltd

Technological strength and brand awareness are two crucial aspects for automakers. If an automaker is not technologically competitive worldwide, it is not qualified to serve mainstream customers. Even harder is to how to build a brand after it has acquired technological competitiveness.

When you buy a BMW, you don't have to examine every single detail. You trust its quality. But when a new company produces a BMW-level product, it takes time for the product to win customer trust because they will understand it piecemeal.

Qoros has now seen progress in its brand awareness, especially in terms of its innovative design and safety.

Guo Qian, president and CEO of Qoros Automotive Co Ltd

China has been the world's largest auto market since 2009. And I believe customer satisfaction, technological strength and network building are key to Chinese automakers' long-term success.

I believe that the coming decade will be a golden period for China's auto industry. We would also like to establish a mechanism for cooperation and support with other automakers.

Zhang Baolin, president of Changan Automobile Group