In the Year of the Horse, there is no letting up in China’s passion for luxury horsepower. Despite concerns over economic slowdowns and government regulations, the number of new manufacturers and new models competing in this sector continues to swell.
The 2014 Beijing auto show saw no less than 45 luxury vehicles on show, with 15 of those models making their world premiere at the event. And premium vehicles represented the undeniable centerpiece of the show for both critics and consumers. The One1 from Koenigsegg was voted the highlight with attendees, with the McLaren P1 in second place.
On the floor, nobody could get near to the BMW Vision of Future Luxury whilst the Lincoln MKX was one of the event’s best-reviewed vehicles. Between them, these standouts show just what a diverse place the luxury auto grid in China has become. This is a category that offers consumers comfort, excitement and exhilaration. For manufacturers of all shapes and sizes it still appears to offer an exceptional growth opportunity, but it is an opportunity that must be navigated with increasing skill.
In this report, we’ll take you on a tour of the high-end of the auto market as revealed in Beijing, fuelled by TNS’s years of observation, expert views on network management and brand differentiation, and the changing meaning of luxury itself within China. We’ve also sought out the perspectives of pioneers in other luxury sectors for additional insight on how to build relationships with a new generation of luxury consumers.
Enjoy the ride – and please get in touch if you would like to discuss any aspect of the auto industry in China or beyond.
Automotive Practice, TNS APAC