“The luxury car market has ended years of rapid growth and begun to slow down. New luxury brands such as Tesla have become the main growth driver in the luxury car market, which also means that the position of traditional luxury brands is further challenged. Compared with the past, luxury car owners have different expectations for new and established luxury brands: new brands need to work harder in configuration, smart technology and design, while traditional ones need to maintain advantages in manufacturing processes. In addition, luxury brands can meet the individualisation needs of car owners through customised car peripherals, and can also gain favour from female luxury car owners through community services with brand characteristics.”
– Austin Yuan, Research analyst
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