According to a new brand research study conducted in China, the world’s largest auto market and the second-biggest when judging the premium segment, Mercedes clients are usually successful and wealthy entrepreneurs.
At the “other” end of the spectrum (which is not a huge margin, if we remember the prices of luxury cars and that in China buyers usually have to take into consideration the huge import tariffs) Cadillac owners could be more likely the white-collar worker type. The study made by the Shanghai-based Hurun Research Institute has judged the attributes associated with drivers of eight major luxury car brands in China – the focus groups surveyed 800 premium car motorists from 10 cities to best figure the characteristics of owners of the rival nameplates.
McKinsey & Co. forecasts that China would also become the largest auto market for premium models, overtaking the United States in the process, in 2016 – so luxury automakers are hard at work securing the best possible brand image. Having and established marque is also not enough in China, as many premium car customers are actually buying a luxury model or even a car for the first time – which gives new etrants such as Nissan’s Infiniti or Ford’s Lincoln brands the opportunity to snatch buyers from better-known competitors.