Automakers in Japan create "value versions"
Foreign carmakers have found a way to compete; quite simply, they are stripping down. According to the Nikkei Weekly, European automakers have created “value versions” of their more popular models to appeal to price-conscious customers in Japan. BMW Japan Corp. has unveiled Style Essence, lower-priced versions of its models that drop the unnecessary. Peugeot Citroen Japon Co., Renault Japon Co., and Fiat Group Automobiles Japan Ltd. have all similarly “revamped” their leading models to compete with government subsidies and the economic downturn.
For companies so protective of their image, the move is unprecedented. It appears to be working though.
For those watching the Auto Industry, keep an eye out for “Cleaning up Diesel” in EURObiZ Japan’s February Issue