Wednesday, September 09, 2009
Premium carmakers face challenge of an ageing population
Luxury carmakers, including Germany's Audi, BMW and Daimler, which are still reeling from the collapse in demand for new cars due to the economic crisis, face a new threat to sales - old people.
Globally the population is ageing and that means significant changes to buying habits forcing companies to revamp their product ranges.
Customers old than 60 years represent less than 30% of car buyers in the developed markets. However, by 2020 that figure will have increased to 40%.
While some carmakers such as Daimler have a strong brand identity among the over 60s and could benefit from an ageing society, other marques don't. Meanwhile, older buyers typically prefer smaller and less expensive 'easy to handle' cars.
However, that view is disputed by BMW head of sales Ian Robertson, who says customers want a choice. He said: "Older buyers buy BMW for the same reason as younger ones: Because the brand projects a sporty, dynamic and youthful image."
DATED: 09.09.09
FEED: AW
