T many potential customers visited the 2024 China (Macau) International Automobile Exposition, very few deals were inked, several exhibitors told the Times.
The Exposition took place at the Cotai Expo at the Venetian Macao over the weekend.
“Many people are coming, seeing the cars, and asking questions. But at the end of the day, they are mostly window shopping,” a representative in charge of the local branches of several international car brands told the Times.
“We made almost no sales over the weekend. […] I believe there is a clear contraction of the market caused by recent government policies.”
“It has become much more expensive to own a car in Macau in the past few years, and while the car prices are actually the same or even lower, the expenses of keeping a car, particularly parking, have increased a lot,” said an exhibitor.
Another sales representative from a multi-brand concessionaire in Macau humorously commented, “The [coffee shop brand] outside is making a lot more money than us this weekend, for sure,” noting the sector’s current poor circumstances.
The highlight of this year’s expo continued to be the electric mobility (EVs) and the mainland manufacturers, with the Chinese brands presenting their latest models and developments in the EV market.
Japanese manufacturers were also well represented in the exhibition areas.
But unlike the Chinese and some European manufacturers, Japanese brands exhibited hybrid and extended-range EVs.
Covering 65,000 square meters, the event hosted over 100 automotive brands from 20 countries and regions.
