Scott Vruggink: U.S. car companies can compete abroad when they innovate. Buick is one of the top five auto brands in China. Why?

Buick moved quickly to redesign their cars for China’s business elite. The Buick logo was enlarged, seat-back televisions became standard, and the headlights took on a new angle to emulate the eyes of a fabled Chinese bird. They provided fine details, and added chrome and jewelry that would impress Chinese buyers. In short, they listened to the customer.
One example of innovation is a company called Tesla Motors. Because of its nimble success in producing an all-electric vehicle – still on the drawing boards of the big American automakers – our venture capital firm and other forward-thinking money managers are investing in Tesla. Tesla already is selling a sporty two-seater, zero emission, electric car that goes 0 to 60 mph in less than four seconds with a range of 244 miles on one charge. They are also planning to produce a four-door sedan that will sell for less than $50,000.