China’s luxury car sales to double by 2020
06/03/2013
Sales in the country should surpass those the US by 2016 and equal that of Western Europe by 2020, it said.
Nissan and General Motors are expanding their premium brands to compete for luxury buyers in China, where German marques led by Volkswagen AG’s Audi account for about 80% of sales
Luxury car sales have increased 36% annually in the past decade, compared with 26% for the total passenger-vehicle market.
McKinsey surveyed 1,200 consumers in 12 large Chinese cities for its report.
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