国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Auto China

Race is on to luxury car market

By Li Fangfang (China Daily) Updated: 2014-06-23 07:09

Race is on to luxury car market

China is expected to surpass the US in luxury car sales by 2016, according to the latest industry study by PricewaterhouseCoopers. Photos provided to China Daily

Report: Global icons localize to be competitive in fierce market

Following a nearly five-fold increase in sales over the last decade, automakers are further ramping up efforts in the China market as premium brands continue to rise, according to a recent report by PricewaterhouseCoopers.

The multinational professional business advisory forecasts the Chinese luxury car market will have annual sales surpassing 3 million units by 2020.

In the last decade, the overall market has expanded from 4.3 million to 19.9 million vehicles purchased, a trend that continued despite the global downturn and other automotive markets in steep decline.

And the luxury segment even grew as the Chinese auto market expanded only marginally in 2011. That year, it had a startling 54.5 percent rise.

By the end of 2013, the segment was still enjoying double-digit growth to reach sales of 1.4 million units, second only to the United States. China is expected to surpass the US in luxury sales by 2016, said PwC.

The proportion of affluent consumers in China is growing rapidly, both in volume and age range. Younger first-time owners have increasing buying power that helps fuel the luxury segment, the company's research concluded.

"Foreign luxury brands seem to appeal to young buyers as they perceive them as safer, more technologically advanced and better quality," said Wilson Liu, head of PwC's China Automotive team.

"On the other hand, a trend toward vehicle downsizing amid more stringent emission standards is also reflected in the luxury segment," said Liu. "Entry-level models are increasingly available and appealing to younger, first-time buyers."

Luxury vehicles have a projected compound annual growth rate of 11.5 percent from 2013 to 2020, almost double that for standard, non-premium light vehicles, according the report.

It forecasts that the penetration rate for luxury vehicles will even surpass the 10 percent share seen in today's mature markets such as the US.

Race is on to luxury car market Race is on to luxury car market
World's fastest police car World's first truly functional underwater car

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
通辽市| 盐山县| 乐清市| 新建县| 昭平县| 台州市| 澜沧| 仁怀市| 胶南市| 沙河市| 醴陵市| 方正县| 湄潭县| 丹东市| 邻水| 鄂伦春自治旗| 日照市| 且末县| 南靖县| 贡嘎县| 姜堰市| 涪陵区| 佛学| 濮阳市| 灵台县| 胶南市| 兴仁县| 农安县| 长沙市| 曲水县| 军事| 台州市| 泌阳县| 永胜县| 沁源县| 奉新县| 万盛区| 福海县| 和林格尔县| 西平县| 武穴市|