Table of Contents
Overview
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- What you need to know
- Covered in this Report
- Excluded
Executive Summary
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- The market
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- Figure 1: Best- and worst-case forecast of luxury cars sales volume, 2013-23
- Companies and brands
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- Figure 2: Market share of luxury car brands, by sales volume, 2015-17
- The consumer
- Popularity is more important than uniqueness
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- Figure 3: Luxury car brand feature association, March 2018
- BBA leads in favourability…
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- Figure 4: Favourite luxury car brand, open question, March 2018
- …with diversified perceived brand character
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- Figure 5: Correspondence Analysis – Brand characteristics, March 2018
- Interior design could be highlighted
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- Figure 6: Preferred interior design details, March 2018
- Young people prefer simple and clear cabin designs
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- Figure 7: Attitudes towards interior designs, March 2018
- Overall high acceptance with a practical demand
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- Figure 8: Demand level for self-driving functions, March 2018
- What we think
Issues and Insights
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- What parts of interiors are worth investigating?
- The facts
- The implications
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- Figure 9: The door panel design of Lexus LS500
- Sophisticated, driver-focused versus simple, clear cabin design
- The facts
- The implications
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- Figure 10: Central console designs of Mercedes-Benz new A series and G series
- Are local start-ups and sub-brands challenging luxury car brands?
- The facts
- The implications
The Market – What You Need to Know
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- China is now the largest luxury car market
- A faster growth than general passenger car market
Market Size and Forecast
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- Significantly faster than overall new passenger car sales
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- Figure 11: Sales volume and growth rate of luxury cars and total new passenger cars in China, 2011-17
- China replaces America to be the largest luxury car market
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- Figure 12: The US and China markets’ luxury car sales volume and share, 2012-17
- A CAGR of 15.6% over the next five years
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- Figure 13: Best- and worst-case forecast of luxury cars sales volume, 2013-23
Market Factors
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- Tariff cut and ownership structure adjustment
- The replacement wave and trading up Chinese car buyers
- The low-price competition
Key Players – What You Need to Know
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- Audi saved its first position in terms of sales, with a slight lead
- The four core trends within the domestic auto industry
- Creative thinking in vehicle design and distribution
Market Share
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- Intensified competition between BBA
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- Figure 14: Market share of luxury car brands, by volume, 2015-17
- The thriving ‘second-tier’ luxury car brands
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- Figure 15: Sales volume of luxury car brands, 2015-17
- The legend of Lincoln continues
- A similar story for Japanese brands
Competitive Strategies
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- Electrification
- Intellectualisation
- Municipalisation
- Vehicle networking
Who’s Innovating?
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- Infotainment
- Luxury Vehicle Subscription
The Consumer – What You Need to Know
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- Popularity is more important than uniqueness
- BBA leads in favourability, with diversified perceived brand character
- Design and the functionality of doors could be highlighted
- Young people prefer simple and clear cabin designs
- Overall high acceptance with a practical demand
Appreciated Luxury Car Brand Features
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- Technology has the strongest halo effect, followed by the history
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- Figure 16: Luxury car brand feature association, March 2018
- Popularity, instead of the uniqueness is more important
- Ethics matter, especially among luxury car owners
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- Figure 17: Gap between luxury car owners and general car owners (as benchmark) on brand feature association, March 2018
- Price may not be a criterion
Favourite Luxury Car Brand
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- BBA leads in the rank of favourability…
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- Figure 18: Favourite luxury car brand, open question, March 2018
- …followed closely by four super luxury car brands led by Porsche
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- Figure 19: Favourite luxury car brand, coded from open question, March 2018
- Different nominating motivations
Luxury Car Brand Character
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- Mercedes-Benz has the most balanced brand personality
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- Figure 20: Correspondence Analysis – Brand characteristics, March 2018
- Infiniti needs to work on building brand awareness
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- Figure 21: Percentage of surveyed consumers who claim ‘I am not familiar with this brand’, March 2018
- Distinct perceived personalities of tier two luxury car brands
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- Figure 22: Perceived brand personality of American brands, March 2018
- Figure 23: Perceived brand personality of Japanese brands, March 2018
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- Figure 24: Perceived brand personality of British brands and Volvo, March 2018
Preferred Interior Design Details
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- Divided requirements on interior designs
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- Figure 25: Preferred interior design details, March 2018
- Door panel design could be a hidden breakthrough point
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- Figure 26: Interior requirement – TURF Analysis, March 2018
- Door storage and rear A/C outlet arrangement worth investigating
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- Figure 27: Gap between luxury car owners and general car owners (as benchmark) on the preferred interior design details, March 2018
- Pursuits of car buyers aiming at different brands
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- Figure 28: Preferred interior design details, by favourite car brand, March 2018
Attitudes towards Interior Design
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- Welcome creative and rule-breaking designs
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- Figure 29: Attitudes towards interior designs, March 2018
- Different attitudes between 20s and 30s
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- Figure 30: Attitudes of 20s and 30s towards the selected interior design features, March 2018
- The battle between buttons and screens
- Diversified demands of different brand buyers
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- Figure 31: Attitudes towards the selected interior design features, by different brand buyer group, March 2018
Self-driving Function Requirement
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- Overall high acceptance
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- Figure 32: Demand level for self-driving functions, March 2018
- 40-49-year-olds have the highest requirement on autonomous driving
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- Figure 33: Percentage of respondents who claim ‘it is a must’, by age, March 2018
- Self-driving function preference related to income level
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- Figure 34: Percentage of respondents who claim ‘it is a must’, by monthly household income, March 2018
Meet the Mintropolitans
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- MinTs prefer driver-centred cabin designs
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- Figure 35: Attitudes towards selected interior designs, by consumer classification, March 2018
Appendix – Market Size and Forecast
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- Figure 36: Total market volume of luxury cars, 2013-23
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Appendix – Methodology and Abbreviations
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- Methodology
- Fan chart forecast
- Abbreviations
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