Luxury Car Buyers in China Prefer Compact SUV Designs
Luxury auto shoppers in China prefer Compact SUVs more than any other body type/size of automobile classification, according to Market Insight Corporation. The top body type/size automobile classifications among luxury shoppers in Q1 2013 were Compact SUV, Medium SUV, Medium Sedan, Compact Sedan and Large Sedan.
The shopper preference results from Q1 2013 are indicative of a shift in the preferences of luxury shoppers toward SUV body types. The number of luxury shoppers with positive preference (a shopper rating of 3.7 or above on a 5.0 scale) for Compact and Medium SUVs was higher than Q1 2012 when the preference was for Medium Sedans and Large Sedans.
Overall, the preference for three German luxury brands was quite pronounced among shoppers with a price range reaching over 300,000 RMB. The top 3 luxury brands were Audi, BMW and Mercedes-Benz in Q1 2013. However, shifting shopper preferences toward SUVs clearly benefits Land Rover as the brand moved from the 7th highest rated luxury brand in Q1 2012 to 5th in Q1 2013.
The insights into the preferences of luxury shoppers is based on a sample of 2,348 real-time auto shoppers visiting MyProductAdvisor.cn with a maximum price of over 300,000 RMB. The total shopper sample from Q1 2013 was almost 18,000 shoppers.
“The ability to gain rapid insights across regions from continuously collected real-time shopper data can be a major competitive advantage in decision making,” said Rich Falcone, President & CEO at Market Insight.
Source: Market Insight Corporation