Thursday, June 21, 2012
China May Overtake Germany as World’s Number 2 Luxury Car Market This Year
Despite being the world’s biggest car market, China ranks third in the luxury segment, trailing both the U.S. and Germany. Analysts, however, predict that this is about to change soon; in fact, it could even happen at the end of 2011.
According to a report from Bloomberg, Jenny Gu, an analyst at research company LMC Automotive, estimated that the number of luxury cars sold in China in 2011 may reach 939,000 units, surpassing Germany’s estimate of 914,000 sales.