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Brand Equity of 4 Luxury Car Brands Based on Social Intelligence

June 2017 

Category Analysis – Entry Level Luxury Cars

Region: India

 Luxury car segment posted record sales in India in 2017. The trend is here to stay for at least a couple of years. This report analyses customer priorities from the entry level luxury car segment in India.

Methodology

The analysis is based on customer reviews and conversations online in the segment. The analysis results presented are completely unbiased and not based on any subjective judgement. The source data used for the analysis are user conversations available publicly online like public forums and social media.

 

20,000

Total number of customer conversations analyzed

Luxury Car Industry Overview 

  • Luxury car segment is dominated by manufacturers such as  Mercedes-Benz, BMW, Volvo, Audi, and Jaguar.
  • Growth in sales of the top 5 manufacturers was 3.7% in 2018.
  • Top five luxury car manufacturers jointly sold 40,340 units in 2018, compared to 38,989 in 2017.
  • The Indian luxury car market is estimated to register a CAGR of 23% during 2019 – 2024.
  • Luxury cars penetration rate in India is approximately 1.2%. 

Luxury Car Industry Growth Drivers

Indian luxury car segment is set to see increase in luxury car sales mainly due to strong growth factors:

  1. The rise in disposable income among the young Indian population
  2. Easy finance options for buying cars
  3. Luxury car manufacturers such as BMW, Audi, Toyota, Skoda, Volkswagen & Mercedes-Benz have tied up with Non-banking financial companies (NBFC) to provide easy finance option for car buyers. NBFCs is expected to grow at a CAGR of 15% by 2020.
  4. Increased focus by government on improving roads and infrastructure.
  5. Many banks provide customized car loans which offers cars at lower monthly installments.

5 Actionable Consumer Insights Based on Social Intelligence

Social media intelligence is the process of converting social media data into actionable insights that can be used by brands to create meaningful content and make business decisions across many disciplines. Social media intelligence is gaining popularity as brands are able to make strategic decisions based on insights derived from social media. Merely collecting or reporting on social media data is not true intelligence. It only becomes social intelligence when there is something derived from social media data or when actionable insights are extracted from the data. 

Social media intelligence that gives useful marketing insights goes a long way in predicting your customers’ future choices. By collecting and analyzing customer data, marketers get to know where to focus their time and effort to deliver an extraordinary customer experience. With the help of social media intelligence, marketers focus on building marketing strategies, discounts, promotions, and social media messaging.  

Clootrack analyzed 20,000 user conversations online and picked out 5 important features customers feel as must haves in entry level luxury cars in India. Cars today come with multiple features from superior engine to really intelligent features like autonomous driving. But what are those features customers want the most with the best perfection?

Here are top 5 features that customers would like to see in a luxury car:

1. Looks

 

Indian market has shown tremendous appreciation for the design and looks of cars they use. Our study found that “contemporary” and “European” looks are appreciated better by customers. No wonder Indian auto firms are acquiring European designs of late! “Smooth curves” and “retro looks” also have special preference among customers in India. 

2. Engine

Indian customers love powerful and noiseless engine. Engine is given the second preference just next to Looks. In this segment, customers also expect the engine to be highway friendly. Having a powerful engine allows customers to flow better through traffic, climb uphill easily, higher pickup n highways and freely pass slower vehicles smoothly.

3. Driveability

Smooth driving experience is the third most important feature customers expect in this segment. By smooth driving experience they mean smooth gears, responsive steering, and good auto transmission. Indian luxury car consumers want their cars to have great driveability which means smoothness in the vehicle’s operation at the will of the driver under all driving conditions. A positive perception of driveability includes feelings such as fast acceleration, good pedal response, precise gear shifts, and being easy to start and easy to drive. 

4. Premium Features

Luxury cars are bound to have impressive premium features. The expectations of course vary from geography to geography. Customers in India are specifically interested in leather seats, beige colors, under thigh support, rear seat comfort, music system, surround sound, connected audio, touch screen interface and luxury material feel.

5. Service

On road service and service availability are much sought after among Indian customers. Auto makers with low service costs are really preferred by Indian customers. After sales service experience with timely service, service availability and knowledgeable service staff can get brands extra brownie points as per customers.

Brand Equity

Brand equity is an indicator of the company’s strength and performance, specifically in the public markets. In simple terms, brand equity describes brand value.

Brand value is determined by consumer perception, which is a combination of knowledge and experience towards a brand and its products. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects. 

We now know the most important features customers look for in entry level luxury cars in India. But how does each brand fare? The following is what our study says. Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers list of features that delight users and several other interesting insights. 

Detailed Report

Are you interested to know more about customer analysis, consumer insights, customer believes, emerging trends, and all other interesting insights into the luxury cars industry in India?  You can download the pdf version of the report for free. Enter your email at the end of this report and we’ll send it to you for FREE.

Brand Equity

Brand equity is an indicator of the company’s strength and performance, specifically in the public markets. In simple terms, brand equity describes brand value.

Brand value is determined by consumer perception, which is a combination of knowledge and experience towards a brand and its products. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects. 

We now know the most important features customers look for in entry level luxury cars in India. But how does each brand fare? The following is what our study says. Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers list of features that delight users and several other interesting insights.

Detailed Report

Are you interested to know more about customer analysis, consumer insights, customer believes, emerging trends, and all other interesting insights into the luxury cars industry in India?  You can download the pdf version of the report for free. Enter your email at the end of this report and we’ll send it to you for FREE.

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