Chinese Consumers Shifting to Domestic Luxury Cars
Update: 2025-12-14
Description
Chinese consumers are shifting towards domestic luxury cars, causing a decline in sales for European brands like Porsche, Mercedes-Benz, and BMW. This trend is driven by a slowing economy, government incentives, and the rise of competitive Chinese automakers, particularly in the electric vehicle market. Sales figures show a significant drop in units sold for these foreign brands, with even ultra-luxury brands like Ferrari experiencing a decline. The used luxury car market is also feeling the impact, with prices dropping due to reduced consumer spending.
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