Luxury cars in the Philippines
Luxury cars are motorized vehicles that provide “luxury” through the inclusion of their over-the-top and pleasant features centered on overall comfort, driving and owning experience thus making them more expensive than most cars in other segments.
The term also relates to cars that offer greater engine performance, a sleeker design and aerodynamics, additional amenities and other dealer options that make these vehicles “high-end cars”. In terms of branding, these cars are known for their prestige and the notion that to get luxury one must pay a high price.
Top ten luxury car brands
The dominant brands in the luxury car segment are the European “big three”- BMW, Mercedes Benz and Audi. These brands offer a higher degree of comfort brought about by conveniences such as leather seats and upholstery, polished woodgrain-designed dashboards, additional safety features, and some of the latest car gadgetries and equipment.
Luxury cars are also status symbols of conspicuous consumption relating to the luxurious lifestyle of its owner. Some cars, such as luxury sport models, offer better engine performance and handling. Completing the list of the top ten luxury brands are: Acura, Rolls Royce, Aston Martin, Bentley, Buick, Cadillac and Lexus.
Segments in the Luxury Class
Premium Compact- are known as luxury cars developed by car manufacturers to offer the least expensive models in their lineup. These models are meant to target consumers who prefer to purchase a luxury car priced less than entry-level luxury units.
Compact executive- these are generally smaller than midsize cars, but have characteristics such as a more complex mechanical layout and powertrain. This segment is very competitive as its price range overlaps with well-equipped non luxury cars. BMW have 40 percent of their fleet’s models here.
Mid Luxury- also called executive cars which have dimensions similar to mid-size and larger cars. Although not the highest selling segment for luxury car manufacturers, these classes still generate considerable profit because of their lucrative technology options.
High-end or full size- are also called grand saloons. The nameplates in this segment are known to offer the latest equipment fitted in their roomy interior. Some brands also offer long-wheel base variants that offer better legroom.
Ultra Luxury- are luxury cars which cost more than P4.5 million. This segment is dominated by Rolls Royce and Bentley who offer some of the most expensive cars in the world.
While most luxury cars are either coupes, sedans or saloons, the term can also be applied to other car body makes such as hatchbacks, vans and sports utility vehicles (SUV).