Why has it become popular for the richest people across the country to buy domestic luxury cars?

The aesthetics of the wealthy were once highly unified by brands like BBA, Porsche, and Rolls-Royce. However, in the first half of this year, the NIO ET9, Xiaomi SU7 Ultra, Yangwang U7, and Zunjie S800 were successively launched, all entering the price range of 500,000 to 1 million yuan.

To attract the wealthy, new automotive forces imitate luxury brands by holding product appreciation events, business courses, etc., doing their best to catch the attention of the affluent class. This way of selling is, to some extent, an epitome of the value of luxury cars. Luxury cars have never been just a means of transportation; they are also a way to sell status, social circles, and aesthetics.

As a group of new millionaires continue to buy domestic luxury cars, the consumption preferences in the luxury car market have also changed. How can domestic luxury car brands capture high-net-worth customers? And how can they compete with established luxury car brands for market share?

The Changing Landscape of Luxury Cars

In 2025, if you want to sell a luxury car, the most important scenario is not a high - pitched product launch, not a crowded auto show, nor a direct - sales store in a bustling commercial district, but a small - scale, high - end, and private product appreciation event.

In early December last year, Zhang Jinghe, who works in the financial industry, was invited to the Overseas Chinese Town Forum in Shenzhen. "It's a well - known but mysterious private club." A white fan - shaped building hangs in the middle of an artificial lake, with a small path connecting the club entrance to the lakeshore. The surrounding area is surrounded by large areas of greenery and townhouses.

Overseas Chinese Town, Shahe Street, Nanshan District, Shenzhen. Photo / Visual China

The photographer took pictures of the guests one by one. According to the event organizer, the photographer has an impressive background. "He has taken pictures of Ren Zhengfei (the founder of Huawei) and is also the official photographer of F1." Zhang Jinghe stood in front of the camera wearing a red sweater chosen by his wife. The warm winter sun shone on his face, and with a click of the shutter, the faces of successful people in this era were captured.

The star of the appreciation event was a midnight - blue NIO ET9 priced at 788,000 yuan. It was quietly parked in a white room in the Overseas Chinese Town. Customers were rotated every two hours to visit, "which lasted for two whole days." Strictly speaking, the Nordic - style decoration of the club is not fashionable nowadays, but those in the know will say it's a building from the millennium era, and the people coming in and out are among the earliest old money in Shenzhen.

Throughout the private event, Zhang Jinghe didn't talk to anyone. He guessed others were the same. After all, you never know how wealthy the person standing next to you is, so no one would rashly express their opinions. NIO has held similar high - end appreciation events in almost all cities where the ET9 might be sold.

The guests lived up to Li Bin's expectations. In the first full - delivery month of the ET9, 835 units were sold. This result is more than 100 units higher than that of competitors in the same price range, such as the BMW 7 Series and Audi A8L, and is only second to the Mercedes - Benz S - Class.

NIO ET9. Photo / Visual China

NIO is not the only one holding high - profile private events. In May this year, in Mile, Yunnan, the warm wind blew through the lavender fields, and the fragrance filled the red - earth castle complex, mixed with the smell of high - end perfumes of the guests. Their eyes were fixed on a silver - and - black Zunjie S800. In the videos that circulated, the guests included He Chaolian, the daughter of the gambling tycoon, Ding Jiamin, the daughter of the Xtep founder, and Luo Cheng, the second son of Holiland. A blogger said that He Chaolian ordered 30 top - of - the - line models at once.

An investor told Mei Ren Auto that several bosses around him are interested in buying this car, mainly because of Huawei. "After all, the Wenjie M9, which cost more than 500,000 yuan before, was too cheap to drive out." The Zunjie S800, priced at 1.018 million yuan, is just right. Less than two months after its release, at least 8,000 Zunjie cars have found their way into the garages of bosses.

Private events are, to some extent, an epitome of the value of luxury cars. At the end of the 19th century, when cars were first invented, owning a car not only required a large amount of capital and professional driving skills but also met the leisure and social needs of the noble class. A stretched and heightened luxury car represents the lifestyle, consumption concept, and identity of the affluent class. Luxury cars have never been just a means of transportation; they are also a way to sell status, social circles, and aesthetics.

Dong Qi has been in the luxury car sales business for more than a decade. For a long time, most domestic brands did not have the strength to support the added value of luxury cars as described above. This year, he finally felt a sense of "killer instinct" in the market. First of all, the brands launching luxury cars are well - known, including Xiaomi, NIO, Huawei, and BYD. Secondly, at the product launches, the executives of these brands openly listed various parameters, claiming to "lead and outperform" Porsche and Maybach. "It's obvious that they really want to increase sales and are strictly targeting their competitors."

This "killer instinct" is directed at established luxury car brands. In response to the track speed of the Xiaomi SU7 Ultra, Porsche once again emphasized its "more than 70 - year history" and that "every challenge makes Porsche stronger." Even Mercedes - Benz has dropped its reserve and seemingly implied something about Zunjie. One of its posters clearly read eight characters - "True dignity doesn't need to rely on others." Although these promotional materials were soon hidden by Mercedes - Benz, the market still sensed a hint of uneasiness.

As a group of new millionaires continue to buy domestic luxury cars, the consumption preferences in the luxury car market have also changed. How can domestic luxury car brands capture high - net - worth customers? And how can they compete with established luxury car brands for market share?

What Makes the New Luxury Cars "Luxurious"?

The most typical feature of a luxury car is its "size." According to body size, the Xiaomi SU7 Ultra, NIO ET9, Zunjie S800, Yangwang U7, etc., can be simply classified as D - class sedans. Their body length usually exceeds 5 meters, and the height is not less than 1.5 meters, which is larger than common sedans and can fill a standard parking space.

In the process of car manufacturing, increasing the interior space is not as simple as adding a piece of steel plate. It often leads to a change in positioning. SUVs, which are designed for multiple uses, can meet various travel scenarios, balancing space and practicality, but sacrificing some requirements for handling and appearance. Ordinary sedans, on the other hand, compromise on space. Only D - class cars can balance these needs by increasing the cost, taking into account both space and aesthetics, and meeting the diverse needs of the affluent class.

In the words of Zhang Jinghe, the owner of a NIO ET9, the size of a D - class car makes other cars parked beside it look tiny. The large space and the higher seats in the car provide a panoramic view and a sense of control. "You can always know the road conditions ahead."

However, large cars also have their inconveniences. When Zhang Jinghe drives a D - class car, he usually doesn't park in just one space. He prefers a spot with empty spaces on both sides to avoid "door - opening accidents." The community where he lives has specially built a more secluded and safe basement - level 3 parking lot, strictly controlling the traffic flow and only allowing luxury cars to enter. "You can find all the luxury car brands you can think of in there." The cars of various colors are parked at a distance from each other, like exhibits.

In addition to the exaggerated length at first sight, car manufacturers have also made a lot of efforts in interior design and hardware to create a sense of luxury.

Taking a closer look at the interiors of the new generation of luxury cars, high - end materials are used in visible parts such as door handles and buttons, including but not limited to crystal, marble, and handmade pure - wool carpets. The seats that come into direct contact with the skin are almost all covered with NAPPA calfskin, just like the fabric of luxury clothing, "comfortable, skin - friendly, and not prone to wrinkles." There are even 200,000 stitches on a single seat cover. The promotional materials emphasize that it is sewn by inheritors of intangible cultural heritage embroidery techniques, creating a sense of exclusive luxury. The floors and panels of the cars are also made of high - end wood materials, and the grain patterns may even come from the same tree, ensuring no repetition between cars.

Interior of the Zunjie S800 luxury executive sedan. Photo / Zunjie Automobile official

Fan Xin, an employee who has worked for German luxury car brands, said that these elements are in line with the decoration of hotels, shopping malls, and even the homes of the wealthy. For example, the crystal gear lever is like a crystal chandelier, the marble - patterned surface is similar to that of a hotel front desk, and the calfskin is a common material for sofas in living rooms. When customers sit in a luxury car, they should feel like they are entering a private study or living room. When they step on the wool carpet in the car and say, "It feels just like the one in my living room," Fan Xin knows that no further explanation is needed, and the customer is quite satisfied.

In terms of luxury, the popular is not always the best. Just like the decoration of a mansion, the color and texture of different materials need to be carefully matched to look high - end. Creating an atmosphere in a luxury car is also very important.

A luxury car owner has been looking for a "more expensive" car since last year. He found that some new luxury cars on the market are a bit over - the - top. The saturated red or dark - yellow leather seats, combined with deep - purple ambient lights, make you feel like you've entered a KTV room when you get in, "like the style of nouveau riche in the 1990s."

In Fan Xin's view, the new luxury cars still inherit some of the qualities of established luxury cars. Whether it's the preference for natural dyes over chemical dyes or the insistence on handicraft production over assembly - line work, as long as the aesthetics of the affluent class don't change significantly, there won't be a revolutionary change in luxury car design - they have strong purchasing power and are willing to pay for niche and expensive tastes.

The real effort of new luxury cars lies in hardware.

Xu Chenyang, who is engaged in automobile R & D, has experienced many luxury car models. They can be roughly divided into two categories according to performance: "either fast or stable." The former is represented by Porsche, which claims on its official website that "speed is a symbol of quality." Young and wealthy people always pursue the thrill of speed to stimulate the secretion of dopamine. The latter is represented by Maybach. When sitting in a Maybach, even on bumpy roads, you can see other cars bouncing up and down, but your own car remains stable.

The technological R & D of the new generation of luxury cars also follows these two paths. New and advanced technologies are integrated into the cars. After real - life experience, Xu Chenyang found that "the difference between new luxury cars and established luxury cars is very small." He believes that the real competitive edge of domestic luxury cars is "lowering the price." Behind this is the forging of the Chinese supply chain in price wars. Thinking that you can experience the speed of a 1.5 - million - yuan Porsche 911 by buying a Xiaomi SU7 Ultra for 529,900 yuan, Xu Chenyang couldn't resist placing an order.

A photo taken by Xu Chenyang when Xiaomi invited car owners to watch the automobile endurance championship in Ningbo. Photo / Provided by the interviewee

Salesperson Dong Qi also noticed this subtle change in psychology - the wealthy are becoming more cautious in their consumption. Before the pandemic, customers rarely talked about price. His job was just to chat with them, about cars, brands, and life. If the conversation went well, the customers would naturally place an order. "Emotional factors played a major role."

Now, more people are thinking about "whether it's worth it." Customers who can afford luxury cars also care about getting higher - end configurations, more comprehensive performance, and paying less tax at a lower price. Ultimately, it all boils down to higher cost - effectiveness.

The Customers of Luxury Cars Have Changed

For a long time, most people who could afford luxury sedans were business owners, and their lifestyle determined the positioning of luxury cars.

He Xiaoming, born in the 1970s, bought his first luxury sedan in his 30s when he was in the rising stage of his business. He often drove himself to neighboring cities to select locations for branch offices, rested in the car on the way, and occasionally sat in the back row with customers while his employees drove in the front.

For He Xiaoming, the car should be easy to drive first, and the rear - seat space should be large. The seats in the car are preferably separated, just like the well - spaced tables and chairs in a high - end restaurant. When sitting in the car, there should be a sense of boundary, especially on bumpy roads, so that passengers won't accidentally bump into each other awkwardly.

Another important factor is that the car he drives should be "recognized by others." So He Xiaoming spent nearly one million yuan on a BMW 7 Series when the housing price in Shenzhen was only a few thousand yuan per square meter.

The change has occurred in recent years. Xu Chenyang said that in the past, when buying a luxury car, there were "not many choices" other than traditional luxury brands like BBA and Porsche. Domestic brands were lagging behind in terms of both products and technology. However, in recent years, there have been many more options in the market.

Xu Chenyang grew up playing Audi Double Diamond toy cars and racing games. As an adult, the toy cars in his hands have been replaced by steering wheels with different logos. He has owned two HiPhi X and HiPhi Z models from Gaohe, each worth 500,000 yuan, and also spent 300,000 yuan on a Ji Yue 01. However, none of these cars have been widely recognized. Few people know that before the Xiaomi SU7 Ultra, Gaohe also set a record on the Beijing Golden Port track. According to Xu Chenyang, after Gaohe disbanded, some car companies recruited its engineers in batches, valuing their experience in luxury car product, brand, and technology exploration.