Luxury carmakers eying China market
Print Edition
Luxury carmakers were upbeat about the Chinese market and were also embracing new industry trends as they showcased their latest technologies and car models at the Shanghai International Automobile Industry Exhibition.
The fair opens to professional visitors tomorrow and the public on Saturday.
“We expect continued growth with a new product pipeline and the expansion of our dealer network and showrooms which will further improve our share in this key region,” said Aston Martin Executive Vice President and Chief Creative Officer Marek Reichman.
Last year, the UK luxury vehicle maker’s sales in China grew 31 percent, compared with a sharp slowdown of growth in the overall auto sales.
Its first all-electric production car model, the Lagonda Rapide E, made its worldwide debut yesterday at the Shanghai auto show.
“The two biggest growth factors in our industry in the coming decade will be SUVs and electrification,” Reichman said.
The limited model is expected go into production in 2022 in Wales.
Chief Executive Officer of Rolls-Royce Torsten Muller-Otvos expected China to become the company’s biggest market in the “not too distant” future. China is already the BMW subsidiary’s second-largest market.
“China plays a significant role in our global success and is also our youngest market, and it’s set on continuous growth pace,” he said.
Catering to consumers
Lincoln, the luxury automotive brand of Ford Motor Company, will accelerate the introduction of its products according to the needs of Chinese customers and incorporate more Chinese elements into its products.
Between 2019 and 2021, Lincoln plans to launch seven new models in China while introducing at least two limited edition models each year, according to Mao Jingbo, president of Lincoln China.
“Lincoln aims to fully develop its ‘China’s first, customer first’ strategy and complete the upgrading of its products, customer experience and brand in 2019,” Mao said at the China debut of Lincoln Aviator, the first Lincoln to offer a plug-in hybrid option.
“Fully considering the needs of Chinese customers, Lincoln will achieve ‘China speed’ in the highly competitive luxury car segment to brace for a breakthrough,” Mao said.
Automobili Lamborghini Chairman and CEO Stefano Domenicali said it is a “delight” to see Lamborghini gain popularity worldwide, especially in China. In 2018, Lamborghini’s global sales increased 51 percent from 3,815 to 5,750 units.
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