Chinese vs. Europeans: How Do They Decide Which Car to Buy?

Apr 30, 2016 10:00 AM EDT

(Photo : Getty Images) A Chinese sales representative looks at a new Bentley luxury car at a showroom on January 27, 2015 in Beijing, China. Sales grew globally for the luxury automaker as demand in the Chinese market increased more than 60 percent in 2014 from the year before. China is expected to become the world's largest luxury car market by 2016, analysts say.

What makes Chinese people purchase high-end cars?

The more advanced technology a premium car has, the more likely it is to be bought by Chinese buyers, a report said on Thursday.

The Hurun Report, published by the same think tank that creates the "China Rich List," found out that more than 80 percent of Chinese premium car owners are greatlyl affected by the car's controllability and cutting-edge technology. This is in contrast to European premium car owners who look at the practicality of the vehicle such as its fuel emmission rates and energy consumption.

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China Daily reported that driving assistance, intelligent vehicle interaction system, and automatic engine start-stop functions, command system, auto piloting, intelligent recharging, and airless and explosion-proof tires are very important for the Chinese.

Only 17 percent of the Chinese car owners surveyed said that the price affect their purchasing decision, while 44 percent of Europeans take the price tag as a big factor.

Chinese premium car owners are also more educated, with 97.6 percent of them holders of bachelor's degree or attained higher educational achievements. China also has more male owners of high-end vehicles at 74 percent while Europe only has 62 percent.

Almost 70 percent of Chinese premium car owners use car-hailing applications such as Didi Chuxing (previously Didi Kuaid), while European car owners who use similar apps fell to 35 percent. Fifty percent of both Chinese and European owners have experienced being the drivers of car-hailing apps as they believe that it provides greater opportunities to make friends.

A total of 1,350 Chinese car owners from the cities of Beijing, Tianjin, Shanghai, Guangzhou, Hangzhou, Xiamen, Shenzhen, Kunming, and Chengdu. The number of European car owners who participated was 1,110 from the United Kingdom, France, Italy, Spain, Germany, and Sweden.

TagsBentley, car industry in China, car market in china, automakers in China, automobile market in China, China vs Europeans, How Chinese buyers choose cars, luxurious cars in China, luxurious cars, luxury car, hurun report