Chinese luxe market becomes a boon for car companies

Isaac Mostovicz writes that luxury automotive companies are beginning to see China as their saving grace...

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Asia is continuing to serve as the luxury industry’s bright spot amongst an otherwise dismal global market, due largely to the recession. I wrote previously about BMW seeing growth in its Chinese market, which triggered a planned seven-fold increase in its China production capacity.

It appears that the phenomenon is not limited to BMW. Other luxe car companies are seeing considerable increases in the number of cars sold year on year. AFP reports:

Audi said earlier that it had sold 8.9 percent more cars in November on a 12-month basis, with Chinese sales leaping by 101.9 percent to 16,503 vehicles as the company surpassed its annual sales target there, a statement said.

This signals yet another instance where China is making gains whilst Japan tries to pull its luxe market back into place. Since I wrote in November that Japan was facing a loss of confidence by luxe retailers, investment into lesser-known Asian luxe markets has moved forward. As China continues to liberalise its economy, its luxe industry will only grow further.

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