2013 Luxury Car Market Researchof 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 : 8.5% • America : 10% • Germany: 30% Market share in China is lower .
2006-2012,Luxury cars sales proportion of passenger cars • Rapid salesincrease of luxury cars • Large room for growth in China
Most luxury brands have a better performance in China than its global market Growth in the global market and China(Jan.-Aug. ,2013) BMW Audi Benz JLR VOVOL Porsche
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%. Ford 1.2% Lexus 1.1% Others 1.0% Maserati 1.6% Bentley 5.2% Benz 24.3% Jaguar 7.3% Rolls-Royce 13.0% BMW 17.4% Audi 13.7% VW 14.2%
Top-3 is still German luxury car brands. However,Benz sales is only half of BMW.
Attention proportion of different prices(Apr.-May 2013) • Luxury cars of 2-3 million yuanis 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 : 36～45; • Maserati : 35～45; • Ferrari : 36~37. In 2020, as predicted, consumers of 28-48 may accountfor over 80% in theluxury cars field .
Attention proportion of different prices(Apr.-May 2013) Luxury cars of 2-3 million yuanis 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. 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. Image Supreme Brand Backbone Sagacity Type Cutting-edge Technology Business Leaders
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 means to buy cars. • Motor Show and Car Trade Market take the second place. Others Network Subscription Acquaintance Car TradeMarket Motor Show 4S Stores
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 .Nearly63,000 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'sbrand 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