What you need to know
The growth rate of the luxury car market was 10.7% in 2018. Despite a decline in total new passenger car sales, the luxury car market showed resilience in 2018. Mintel expects the sales volume of luxury cars to reach 3 million units in 2019, up by 6.6% from 2018. Although data showed Mercedes-Benz overtook Audi to claim the largest market share in 2018, the sales volumes of Mercedes-Benz, Audi and BMW were actually all quite close, with annual sales of 665,520, 651,420 and 628,860 units respectively.
This Report investigates the portrait of luxury car owners and intended luxury car buyers, luxury car brand image associations, and luxury car information channels.
Covered in this report
This Report covers 555 luxury car owners and 1,684 intended luxury car buyers. Therefore, this Report not only investigates luxury cars, but also consumers’ luxury car purchasing intention.
Mintel defines luxury cars by brand. In total 13 brands are defined as luxury car brands, namely Audi, Mercedes-Benz, BMW, Porsche, Cadillac, Lincoln, Tesla, Lexus, Infiniti, Acura, Land Rover, Jaguar and Volvo.
Market size and market share are calculated based on the domestic sales (including imports) of the passenger cars of these brands.
Mintel set minimum thresholds on the monthly household income of respondents in order to better investigate the purchasing behaviours and the attitudes of luxury car owners and potential buyers. Tier one city respondents with monthly household income lower than RMB 20,000 and tier two and three city respondents with monthly household income below RMB 18,000 were screened out.
