The growing number of Asian and African new millionaires are driving the luxury car market into a less traditional route.
IHS Automotive forecasts a dramatic raise in Ferrari, Aston Martin, Lamborghini, Bentley and Rolls Royce models sold by 2020 in India. Similarly, Bentley is experiencing growing sales in India this year, becoming its second most important Asian market after China, according to Amy Arora (Brand Director at distributor Exclusive Motors Pvt). The car giant consequently plans to open dealerships in Hyderabad and Chennai next year.
The latest trends for the luxury cars market are being shaped by the style and demands of these new millionaires. Luxury car makers are reacting to this trend by adapting their selling strategies: One way is by tailoring their services and products to the needs of new clients whilst making the buying process more enjoyable than ever:
Bentley offers the possibility to the Indian jet-set to visit its factory located in Crewe (north-west England) where they watch their cars being put together. Potential buyers are able to add tailored features to their cars such as hand-stitched upholstery. For instance, a Delhi businessman asked for his car’s paintwork to be the same shade as his wife’s favourite nail polish.
Porsche is also developing a similar strategy in Nigeria where it recently opened a dealership targeting the mini-elite of the country where Porsches, Lamborghinis and Ferraris are in high demand.
The challenge for the luxury car makers wanting to open to the African market lies in adapting to difficult terrain as roads are hardly practicable. Porsche rose to the challenge and released its 4×4 Cayenne which is by far, the most popular model imported into Africa.
by Alexandra Gomolka