luxury cars in China

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2013 Luxury Car Market Research
of China
----A 360 Degree Vision of Current Situation
Zhang Shuang
Agenda
Overview of luxury car market in China
Situation of different brands
Regional Distribution
Consumer Profile
Future Forecast
Definition and Status:
 Price :
 D-class car
: ¥500,000-2000,000
 Super-luxury car : Over ¥2000,000
 Market share :
 China :
 America :
 Germany:
Market share in China is lower .
8.5%
10%
30%
 Rapid sales increase of luxury cars
 Large room for growth in China
2006-2012,
Luxury cars sales proportion of passenger cars
Growth in the global market and China(Jan.-Aug. ,2013)
50.0%
40.0%
30.0%
China
Global
20.0%
10.0%
0.0%
-10.0%
BMW
Audi
Benz
JLR
VOVOL
Porsche
Most luxury brands have a better performance in China than its
global market
Distribution of brand attention in luxury car market(May,2013)
 German brand won the first four .
 Benz stands first with a ratio of 24.3%.
Bentley
5.2%
Maserati
1.6%
Ford Lexus Others
1.2% 1.1% 1.0%
Benz
24.3%
Jaguar
7.3%
Rolls-Royce
13.0%
Audi
13.7%
BMW
17.4%
VW
14.2%
Main luxury cars sales volume in China
Brand
First half year(2013)
First half year(2012)
Growing rate
Audi
228,139
193,871
17.7%
BMW
170,700
147,600
15.7%
Benz
98,914
99,391
-0.5%
JLR
42,155
3,6451
15.6%
VOVOL
28,703
21,378
34.3%
Cadillac
19,658
14,616
34.5%
Porsche
18,323
15,274
20.0%
Top-3 is still German luxury car brands.
However,Benz sales is only half of BMW.
Attention proportion of different prices(Apr.-May 2013)
50.0%
38.7%
40.0%
30.0%
21.4%
20.0%
10.0%
0.0%
19.7%
19.9%
Apr.
May.
39.5%
15.3%
19.6%
4.7%
5.4%
Below 1 million 1-2 million
2-3 million
3-5 million
15.8%
Over 5 million
 Luxury cars of 2-3 million yuan is most popular with the luxury car
consumer.
Main distribution province of luxury brand
(Sales proportion of nationwide)
Over 10%:
Beijing,
Shanghai,
Zhejiang
5%-10%:
Guangdong,
Jiangsu,
Sichuan
2%-5%
Inner Mongolia,
Shandong,
Hebei,
Liaoning,
Fujian.
Age of Consumers
In 2012,the average age of luxury car consumers is 36.
30 to 40-year-old consumers account for 2/3.



Cadillac :
Maserati :
Ferrari :
36~45;
35~45;
36~37.
In 2020, as predicted, consumers of 28-48 may account for
over 80% in the luxury cars field .
Attention proportion of different prices(Apr.-May 2013)
50.0%
38.7%
40.0%
30.0%
21.4%
20.0%
10.0%
0.0%
19.7%
19.9%
Apr.
May.
39.5%
15.3%
19.6%
4.7%
5.4%
Below 1 million 1-2 million
2-3 million
3-5 million
15.8%
Over 5 million
Luxury cars of 2-3 million yuan is popular with the luxury car consumer.
Chinese luxury car users is divided into five groups
Brand Backbone Type:
Mainly Male(30-39).
Attention on orgin and property.
Brand
Backbone
Cutting-edge
Technology
Image
Supreme
Sagacity
Type
Business
Leaders
Cutting-edge Technology Type:
Mainly Male(30-39).Willing to try the
advanced features and technology.
Business Leaders Type:
Successful business owners or senior
executive(35-45).
Attention on social identity and comfort.
Sagacity Type:
High percentage of women (25-35).
Care about luxurious figure and cost
performance most.
Image Supreme Type:
30-39.
Emphasis on representing personal identity
and image.
Consumption Custom and Preference
54.6%
37.4%
6.2%
1.8%
Concerned Factors
43.2%
26.9%
17.2%
11.9%
0.9%
Customers care about the power and technology ,
as well as the history of luxury brand.
Means of Purchase
Chinese choose the
4S stores as the main Others
means to buy cars.Network Subscription
Acquaintance
Car Trade Market
Motor Show
1.00%
2.30%
3.30%
6.10%
6.50%
Motor Show and
Car Trade Market
take the second place.
4S Stores
80.80%
Future Forecast: world's largest super-luxury car market.
•
•
•
•
•
Business consulting firm suggests that Chinese super-luxury car
market sales growth benefited from China's increasing number of
high net worth individuals.
From 2006 to 2011 , the number of this population has tripled, and
reached 1 million in 2012 . Nearly 63,000 of them are ultra-high net
worth individuals (with net asset over 100 million yuan ), which is one
of the most promising super-luxury car buyers.
Meanwhile, started from 2009, buying super-luxury cars has been
included in the planning of Chinese billionaires.
As expected, with steady economic recovery, the number of high net
worth individuals will be further enhanced.
Meanwhile, because the super-luxury car market is largely unaffected
by the government procurement, and the client's brand awareness,
loyalty and continued spending power are strong,it is expected in
2017 ,China will become the world's largest super-luxury car market.
Thank you!
Zhang Shuang
2013/11/12
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