China’s wealthy are becoming increasingly discerning. Exclusivity and customization that meet personal taste and social status are highly sought after.
BMW appears to have found the winning formula to appeal to the emerging appetite for exclusivity. The German luxury car maker is meeting this demand via limited edition cars.
The BMW 7 Series Steinway & Sons sold out in China four months after the model came out in April. This global limited edition features hand polished exterior piano lacquer in either black or white. Only 150 of these cars are available around the world and more than half — 88 cars — were allotted to Chinese buyers at prices of 3.2 million yuan.
BMW will unveil another limited edition 7 Series later this year at the Guangzhou Auto Show with the 760Li V12 25th anniversary limited edition. Only 50 cars will be made — to mark the quarter century of the 12-cylinder engine in the company’s 7 Series — and all are set aside for Chinese consumers.
BMW established BMW Individual, its customized unit, in 1991 to make limited edition cars with personalized outfittings.
The company has been quite successful with the limited editions of its 7 Series.
China is now the third-largest market for individual demand after Germany and the United States according to BMW. China is the largest market for BMW’s 7 Series, its top and most customizable line. Sales for the car grew by 36 percent in the first half of the year compared to a year ago.
Previous BMW limited editions included the M3 Tiger Edition to celebrate the 25th anniversary of the model in 2010, the Year of the Tiger and a special edition to mark the 60th anniversary of the founding of the People’s Republic of China in 2009.
photo credit: bmw