US EditionHigh-end car sales sink in China as its economy slows, taking a toll on European automakers
Chinese automakers like BYD expanded market share with price cuts amid a 13% drop in European luxury car shipments, reflecting slower economic growth and changing consumer preferences.
- Chinese demand for foreign luxury cars is waning as customers opt for more affordable Chinese brand models, often sold at big discounts.
- A prolonged property downturn in China has left many consumers with little appetite for big purchases.
- The Chinese brands' share of passenger car sales climbed to almost 70% in the first 11 months of this year, according to China Association of Automobile Manufacturers.
35 Articles
35 Articles
Luxury cars going out of vogue in China
China’s economic downturn is hitting the luxury car sector, dealing a blow to European brands.Chinese consumers are leaning toward more affordable homegrown models, in part because of a government trade-in subsidy meant to stimulate domestic consumption, The Associated Press wrote.Many wealthy drivers are also increasingly shy about public displays of wealth amid the slowdown.The trend is bad news for European giants like Porsche, Mercedes-Benz,…
Presented by their European competitors as a serious threat, Chinese manufacturers have launched their offensive in Europe in recent years. In 2025, they represent 7% of the European market,' said Luc Chatel, President of the Automotive Platform. Over the next four years, around ten new Chinese brands will be launched on the European market.
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