Identification of the Chinese market
Targeted audience: Since reform and opening-up, benefit from high speed development of Chinese economy, there are now 1.5 million rich people in China and the number of the rich increases at an annual rate of 15% year by year. The rich, accounting for 10 percent of the country's population, owned 45 percent of the wealth in cities, and they include senior leadership, all kinds of stars, businessman, etc. From the current situation, consumers of luxury cars can be divided into three kinds of people. Firstly, business elite who make great progress in business; secondly, the rich whose fame is well known to public; thirdly, second generation who enjoy their rich life. They are all potential consumers of luxury car. For second generation, the number of them grows very fast and their consumption behavior of luxury cars is very eye-catching.
1. Competitor: Now, global auto makers are seeing the old vigor returning, albeit gradually, to China's premium market thanks to the economic recovery. They are positive to pay their attentions to Chinese auto market again, and promote their new style luxury cars in Chinese auto market.
• GM's Cadillac brand and Toyota's Lexus chose this year's Guangzhou auto show for a world premier of one key model each. The Lexus GX460 is the latest version of the brand's GX series sport-utility vehicle.
• Toyota says the redesigned SUV offers 'a unique combination of off-road performance and driving comfort.' In short, it is a rugged luxury SUV. Toyota plans to launch the vehicle in China and globally in January.
• Cadillac has stretched the China-market version of its redesigned SLS sedan to give backseat passengers more room -- a key concern in China, where many wealthy owners have chauffeurs. It also is the first GM car in China to offer OnStar navigation and roadside assistance service.
• An array of other brands, from Nissan Motor Co.'s Infiniti to Daimler AG's