In an apparent changing of the guard, China is expected overtake Germany this year as the world’s second largest luxury market. The United States will remain the biggest buyer of luxury vehicles.
According to the latest forecasts, luxury car sales in China will grow 39 percent to 939,000 units in 2011. That would put China well ahead of Germany’s expected 914,000 luxury car sales.
Moreover, analysts are calling for a 16 percent gain in China’s luxury sales next year, outpacing Germany’s 4.4 percent growth.
“Luxury car demand is still on the rise in China with low penetration rates,†Jenny Gu, a Shanghai- based analyst at research firm LMC Automotive, said. “Sales of such cars in developed markets like Germany fluctuate together with the economic cycle.â€
Audi remains China’s top-selling luxury brand, thanks to a 35 percent sales increase to 283,600 units. BMW is second in the pecking order with 200,699 sales – a 40 percent increase – while Mercedes-Benz’ sales have advanced 31 percent to 170,112 vehicles.
About 1.65 million luxury cars are expected to be sold in the United States this year.
References
1.’BMW-Audi Battle…’ view
