Global information and consulting company Nielsen Co divided China's luxury car buyers in its research into five segments, which in detail explains the young age of the premium vehicle customers.
Brand enthusiasts, the largest group, accounting for 27 percent of luxury car sales, are mainly male and between 30 and 39 years old. They have a stronger brand preference, prioritizing brand originality and functional performance in their consideration of vehicles.
Technology upgraders follow with a 24 percent share, typically in the same age group and male. They see themselves as trend leaders and are most willing to pay for advanced features and technology in their car choices.
Business leaders, making up 18 percent of luxury car sales, are mature and accomplished business owners and executives, aged between 35 and 45 and look for cars that provide social recognition and better comfort.
The youngest group, representing value seekers, accounts for 18 percent of luxury car sales and tend to be aged 25 to 35. They are usually first-time luxury car buyers and many of them are female.
"These customers want a car with a luxurious image but what really drives their decision is how much value it offers in terms of feature diversity and price competitiveness," said Ganesh Relekar, director of automotive research at Nielsen China.
Lastly, image pursuers, taking 13 percent, are at age of 30 to 39. These luxury car buyers look for a car that makes a personal statement and enhances their social image.
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