China Luxury Car Market By Overview
Cars have become a necessity nowadays. Luxurious cars are a symbol of coolness. China has a major role in luxurious cars market. Mercedes-Benz, Audi, and BMW are the cars that majorly account for the maximum share in China’s car market.
China Luxury Car Market By Drivers & Restraints
Currently, major premium car brands in China, like Audi, Mercedes-Benz, BMW, Jaguar Land Rover, Volvo, Lincoln, and Infiniti, have already decided to cut suggested retail prices. This is the major driving factor for the target market of the country. In addition, BMW is steadily becoming the leading brand in the country which is another bosting factor for the target market growth in the country. Furthermore, increase in the selling of vehicles, specially cars, which in turn has upsurge the automobile industry in China. This factor has augmented the China’s luxury car market. According to Export.Gov, China continues to be the world’s largest vehicle market with the Chinese government expecting that automobile output will reach 30 million units by 2020 and 35 million by 2025. According to the China Association of Automobile Manufacturers, over 27 million vehicles were sold in 2018.
China Luxury Car Market By Segmentations & Regional Insights
China luxury car market is segmented based on vehicle type and drive type.
Based on vehicle type, the target market is segmented into hatchback, sedan, and SUV. Based on drive type, the target market is segmented into IC engine and electric vehicles.
China Luxury Car Market, By Vehicle Type:
- Hatchback
- Sedan
- SUV
China Luxury Car Market, By Drive Type:
- IC Engine
- Electric Vehicles
China Luxury Car Market By Competitive Landscape & Key Players
Key players operating in the China luxury car market includes Mercedes Benz, Volkswagen AG, BMW, Toyota Motor Corporation, Daimler AG, and Geely Holding Group. In 2019, Mercedes Benz launched its China-made and first electric model, the EQC SUV, in Beijing.
China Luxury Car Market By Company Profile
- Mercedes Benz
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Volkswagen AG
- BMW
- Toyota Motor Corporation
- Daimler AG
- Geely Holding Group
“*” marked represents similar segmentation in other categories in the respective section
FAQs
The China Luxury Car Market report segments based on vehicle type, and drive type.
As more China Luxury Car includes increase in the selling of vehicles, especially cars, which in turn has upsurge the automobile industry in China.
North America market dominates the China Luxury Car Market.
The leading players operating in the China Luxury Car Market include Mercedes Benz, Volkswagen AG, BMW, Toyota Motor Corporation, Daimler AG, and Geely Holding Group..