Guangzhou Auto Show 2018: Electric cars major growth point in slowing auto market

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Now to news from China. With country's auto sales amid an 11 percent decline, some say it's time to shift to a new gear. The trend-setting Guangzhou Auto Show is a good place to start. CGTN's Sun Ye takes us there.

It's just what a slow auto market might need. The fast lane into the future heads right through the 2018 Guangzhou Auto Show. And consumers here will be in the driver's seat.

"I'm planning on upgrading, I want a new car that's good for the whole family."

"Yep I have a buying plan, and it looks matter most to me."

Buyers here say their budgets haven't changed. But car makers say Chinese consumers are getting pickier.

XIONG QINGYUN CMO, XIAO PENG MOTORS "The younger generation of car buyers, has strong buying power. They want high-technology, unique looks that show their identity and affordability all in the same car."

And they want it in new energy vehicles.

XIONG QINGYUN CMO, XIAO PENG MOTORS "So many players are heading into this sector now, we are already dubbing 2018 the year the EV market will take off."

Instead of a downturn, it's a new turn in a new direction. New energy vehicle sales in China jumped almost 90 percent in October. It's the growth point established brands are also seeking.

XIAO YONG VICE GENERAL MANAGER, GAC NE "National auto sales figures are different for different market segments. The EV market has seen robust growth. And we are investing 45 billion yuan in an industrial park just for smart, EV production. The plan is to have EV cars, which currently represent 1 percent of our group's sales, grow to 10 percent by 2020."

More than 10 percent of the vehicles on display at the Guangzhou Auto Show are EV's.

WANG JUNQING GUANGZHOU AUTO SHOW ORGANIZER "Compared to last year, the 2018 show has more brands and new models participating. And judging from the first few days, we expect the number of visitors to hit a new high. It shows we will have strong demand."

So despite a lackluster performance in the last four months, better results could be just down the road. Sun Ye, CGTN, GUANGZHOU.