It's talking about the lowest priced models from luxury carmakers. Entry-level means the starting level, the type of car you might buy if you were just starting to earn enough money to get a luxury car. "Premium" is business-speak for expensive and luxurious. The market for lower-priced(but still expensive) luxury cars is expanding.

'premium' is crap english here I think - If he means you pay a premium price for Benz or BMW ok, but C-class and 3-class are just token prestige at a premium price - that is the meaning, but it is poor English, and poor economics

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