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Jun
2015

Luxury Cars November 2012

Honda warned that its full-year results would be much weaker than forecast, as a trade dispute between Tokyo and Beijing dents sales.

 

The market for luxury cars

In October, the domestic luxury car market sales volumes were approximately 38,000 units, a year-on-year growth of 21.4%.Higher than the 5.1% growth of the general car market. (Luxury cars would include executive vehicles from BMW 5 series and equivalent upwards)

 

Brand expansion

Having started construction in April, the biggest luxury market in the Huazhong area of Changsha, Lugu Car World opened on November 8th. Currently, more than 20 car brands including Lamborghini, BMW, Audi, and Lexus have a presence, and Volvo, Maserati, Ferrari, Aston Martin, Porsche etc. are still in negotiation.

BMW expansion continues

In November, BMW opened 8 further dealerships!

They also launched the new BMW X1 to keep up with the demand for luxury SUV’s and gave an X5 to a Chinese double Olympic gold medal swimmer. Unfortunately she is only 16, and cannot drive for 2 years!

Jaguar Land Rover approval complete

On November 18th the application for a joint venture between domestic car manufacturer Chery and Jaguar Land Rover was officially completed and the joint venture company named “Chery Jaguar Land Rover Automobile Co., Ltd”. The project total investment is 10.9 Billion RMB, and after the new factory is completed in 2014, it will produce 130,000 cars per year from the Land Rover, Chery and Jaguar brands.

Jaguar has done a great deal to improve its brand awareness in China in 2012.

 

Government policy

According to the State Council “energy-saving and new energy vehicle development plan (2012-2020)” they are targeting that the industry will produce 500,000 pure electric or plug-in hybrid vehicles by 2015 and achieve cumulative volumes of 5 million by 2020.

 

20 years of Ferrari in China

To celebrate 20 years of Ferrari in China, the brand held a ‘legend exhibition’ in Beijing’s 798 art district. It has also produced a limited anniversary edition of 20 458’s just for China to commemorate the event.

Having previously refused to provide cars in anything other than standard factory colours, Ferrari now appears to have reneged, as it showed this model in Shenyang in early November.

As part of their commitment to the environment and social responsibility in China Ferrari and Maserati started a carbon emissions compensation programme, donating more than 140,000 trees to compensate for carbon emissions.

New Product Announcements

Bentley will release Mulsanne Mulliner at the 10th China (Guangzhou) International Automobile Exhibition, and Aston Martin will launch the new Vanquish at the same event.

 

Internet based consumer car research

Based on the data gathered from over 70 websites in China, the following car brands where the most frequently visited online.

Car brands most frequently visited on the Internet, Oct 2012

 

These were the most sought after models

 

The interest by price bracket was


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