Retail in Asia

In Sectors

China’s luxury car dealers cut prices as economy slows

The economic slowdown is beginning to affect the Chinese luxury car market, with dealers cutting the prices of top-end models such as BMW and Audi.

However, the most expensive marque, Rolls-Royce, has yet to feel the chill. "We are in a different segment," said Roll-Royce’s director of sales and marketing, Jolyon Nash, on Tuesday. "When you look at it worldwide, there is always a strong demand for super luxury goods."

The China Association of Automobile Manufacturers on Tuesday revised its estimate of 8 percent growth for this year’s car sales to less than 5 percent.

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(Source: scmp.com)