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Country Report

Luxury Cars in

Premium and Luxury Cars in China

Jan 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Removal of additional tariff lowers prices of US-made cars

The Chinese Government has removed the extra import tariff imposed on cars manufactured in the US, reducing the tariff from 40% to 15%. Tesla was the first manufacturer to reflect the move in its car price, adjusting the prices of its Model S, Model X and Model 3.

Manufacturers target demand for personalisation

Car manufacturers are targeting the general trend towards personalisation amongst Chinese consumers. Maserati is amongst the leading brands to offer personalised luxury cars for consumers in the market.

Increasingly favourable environment for electric vehicles

The market environment is becoming increasingly favourable to electric cars in China. The Chinese Government grants significant subsidies to both manufacturers of electric cars and consumers that purchase them.

COMPETITIVE LANDSCAPE

German brands dominate

The major German car manufacturers, Volkswagen AG, Bayerische Motoren Werke AG and Daimler AG dominate the Chinese premium and luxury car category, jointly accounting for nearly 80% of value sales in 2018. Volkswagen’s Audi brand has benefited from early mover advantage in the Chinese market, thanks to which it has developed considerable knowledge about local market conditions and consumer demand.

Tesla opens factory in Shanghai

With China exhibiting increasingly favourable conditions for the development of high-end electric cars, Tesla opened its Gigafactory in Shanghai, its first facility outside the US, at the end of 2019. The plant will manufacture Model 3 and Model Y cars, producing 150,000 vehicles a year exclusively for the Chinese market.

“Second tier” brands gaining in popularity

There is rising demand for cars ranging in price from CNY50,000 to CNY300,000, a high price range for regular passenger cars but low for luxury brands. An increasing number of consumers are moving up into this range.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Cars industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in China market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Cars in China?
What are the major brands in China?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Luxury Goods market research database.

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Premium and Luxury Cars in China - Category analysis

HEADLINES

PROSPECTS

Removal of additional tariff lowers prices of US-made cars

Manufacturers target demand for personalisation

Increasingly favourable environment for electric vehicles

COMPETITIVE LANDSCAPE

German brands dominate

Tesla opens factory in Shanghai

“Second tier” brands gaining in popularity

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2014-2019
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024

Luxury Goods in China - Industry Overview

EXECUTIVE SUMMARY

China becoming increasingly central to luxury brands’ strategies

Millennials and Gen Z consumers shaping market development

Major players see strong growth across a number of categories

Growing emphasis on e-commerce

Evolving environment providing opportunities for further expansion

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2014-2019
Table 9 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 11 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 12 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 14 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

Megatrends

Country Report

Premium and Luxury Cars in China

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Removal of additional tariff lowers prices of US-made cars

Manufacturers target demand for personalisation

Increasingly favourable environment for electric vehicles

COMPETITIVE LANDSCAPE

German brands dominate

Tesla opens factory in Shanghai

“Second tier” brands gaining in popularity

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in China - Category analysis

HEADLINES

PROSPECTS

Removal of additional tariff lowers prices of US-made cars

Manufacturers target demand for personalisation

Increasingly favourable environment for electric vehicles

COMPETITIVE LANDSCAPE

German brands dominate

Tesla opens factory in Shanghai

“Second tier” brands gaining in popularity

CATEGORY DATA

Luxury Goods in China - Industry Overview

EXECUTIVE SUMMARY

China becoming increasingly central to luxury brands’ strategies

Millennials and Gen Z consumers shaping market development

Major players see strong growth across a number of categories

Growing emphasis on e-commerce

Evolving environment providing opportunities for further expansion

MARKET INDICATORS

MARKET DATA

SOURCES

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