Demands for luxury cars rise in China, despite overall declining car sales

10 premium brands such as Mercedes Benz, Volvo, and BMW see sales spike in China this year.


Syamil Faisal

7 Oct, 2019

Demands for luxury cars rise in China, despite overall declining car sales | BEAMSTART News

- From our Sponsors -

In the first 8 months of this year, overall car sales in China dropped by 11 percent to 16.1 million units compared to last year.

According to Toliver Ma, an auto sector analyst at brokerage Guotai Junan International, China’s consumption upgrade increased the demands for premium cars.

BMW’s joint venture partner, Brilliance China Automotive revealed that China-made BMW cars increased its sale by 25.9 percent to 264,194 units.

Volvo cars too have seen a domestic sales increase by 12.3% for this year’s first 7 months — higher than Volvo’s global sales growth of 10 percent.

“Fewer people want to buy a cheap car these days, especially those in business, as they represent your pocket, face, and credibility … quality cars are also safer and more spacious.”
Wu Junchen, a Shanghai-based businessman.

- From our Sponsors -

Latest Jobs

Scientist II/III (Assay Development)

Cleancard

Full Time

USD 100000 — USD 140000 yearly

Chief of Staff

PrimeVault

Full Time

USD 15000 — USD 24000 yearly

Sales Development Representative

Juniper

Full Time

USD 60000 — USD 80000 yearly

Founding Backend Engineer

Remo

Full Time

USD 100000 — USD 124000 yearly

Battery Modelling Intern

Coulomb AI

Internship

USD 10000 — USD 20000 yearly

Technical Recruiter

Mintlify

Full Time

USD 100000 — USD 130000 yearly

Sales Development Representative

Two Dots

Full Time

USD 70000 — USD 80000 yearly

Part-time Software Intern

Silimate

Internship

USD 30 — USD 45 yearly

Fullstack Software Engineer III, Map

Flock Safety

Full Time

USD 125000 — USD 170000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).