|Charissa Echavez |||Mar 24, 2016 10:03 AM EDT|
(Photo : Getty Image) Cadillac's Chinese buyers are younger than the US'.
Unlike in the United States where Cadillacs have a delightful taste for mostly older men, its rising sales in China mostly come from younger luxury buyers where designs were made smoother and production was localized for a much affordable price.
Brand owner General Motors revealed that it made necessary changes to suit the Chinese palate. Hard edges were smoothened to appeal to Chinese buyers who are used to the smooth designs of Audi, BMW, and Mercedes-Benz.
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Following its quite slow build up, Cadillac may soon oust Japan's Lexus as the leading second-tier luxury brand in China, LMC Automotive said.
Cadillac cars will also be more accessible, particularly among young Chinese buyers, now that a $1.2 billion factory dedicated for the brand alone will slash down 25 percent import tax off the price.
On average, most of Cadillac's Chinese buyers are 34 years old, a little over half the average age in the United States, which is 59.5 years.
"In China, young buyers already dominate the luxury market. Since Cadillac is a relative newcomer, it was far easier to begin to cultivate the desired positioning for the brand from the get-go," Johan de Nysschen, Cadillac President, told Reuters.
Sales of Cadillac in China soared 17 percent in 2015 to about 80,000 cars, biting more than a 4 percent share of the luxury market. In 2016, de Nysschen is setting the bar higher, targeting a 25 percent increase to more than 100,000 Cadillacs in China alone.
Former BMW and Infiniti executives predict that China can surpass the US as the biggest Cadillac market in five to ten years time.
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