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Beamer, Benz or Bentley
Transcript of Beamer, Benz or Bentley
21st Century China Western Influence on China's Market China is now a buyer’s economy; there is a consumer boom going on in all cities large and small where one can buy anything that is available in the West
Westerners in the media influence the majority of luxury purchase behavior
“It can be embarrassing these days in China for the not so technically adept or the not so fashionably inclined Westerner.” - Rob Gifford In 2009, when China surpassed the United States to become the world’s largest automobile market, 13.9 million vehicles were sold in China, compared to 10.43 million in the United States (Hays)
A car represents mobility, prosperity, modernity, freedom to travel more, status, and power (Hessler 5)
By 2015, China’s middle class would be 400 million strong (Cheng 55) and would have access to a range of “middle-class lifestyle goods.” Burgeoning Affluent Youth Age demographic: Males 25-30
85 percent of vehicles are sold to first-time buyers
Fastest growing market: young single women & the "leftover women" Controlling Traffic License Plate Lottery
Number determines driving day Future of Auto Market http://www.umtri.umich.edu/content/China.Conference.2009.Ken.Duck.pdf China should capitalize on to the two up and coming market industries, luxury brands and automobiles, by upping the commitment to the Chinese luxury market, including "green" technology Largest Automobile Market Location of Major Automotive Industry Clusters in China Why Luxury Automobiles? Growing safety and reliability concerns
Brand Awareness - Quality
Showing status & power, symbolizes success
Fastest route to recognition
Growing middle class, more disposable incomes Government Incentives Government limousine - Black Audi A6
Tax deductions for personal cars / green cars
Auto market boosts economy - also includes service of cars, insurance, driver’s education, rental cars, gas, etc.
Large engine tax in attempt to prevent people from buying larger cars that contribute more to pollution
Chinese government pairs with auto companies to boost competition and support internal manufacturing