Chinese car buyers have a unique perspective on what constitutes luxury in the automotive industry. While traditional elements such as quality and craftsmanship remain important, Chinese consumers place a high value on technology, connectivity, and advanced driver assistance system (ADAS) features. In fact, up to 50% of serious EV intenders consider ADAS and connectivity features must-have elements of their EV deals.
In addition to technology, Chinese consumers seek fast-charging stations and battery services that address battery life issues. As a result, local manufacturers such as NIO are innovating heavily in these areas to meet customer demands. Another key factor for Chinese luxury-car buyers is the ability to customize their vehicles and seamlessly integrate with local digital ecosystems. Nearly 84% of potential Chinese luxury-vehicle buyers say that the ability to personalize their vehicle is important or very important, placing it ahead of connectivity service, driving performance, and other features.
Global manufacturers are using different strategies to develop or reinforce their brands in China, with some introducing global brands with traditional local customization and others developing local bespoke specials that integrate unique features around connectivity and infotainment. Meanwhile, several EV specialists in China are already working to resolve charging uncertainties and introducing leading-edge features in other areas such as facial recognition capabilities and autonomous driving capabilities.
Overall, the Chinese automotive market is redefining what luxury means in the industry, and manufacturers will need to adapt to meet the demands of Chinese consumers to stay competitive.
