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Luxury car market booming in China – Retail in Asia

Retail in Asia

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Luxury car market booming in China

China’s market for luxury autos is unlike any in Europe or North America, said Ian Robertson, chairman of Rolls-Royce Motor Cars. China may have complex regulatory challenges and different fashions, but there is also a rapidly growing appetite for luxury goods, including high-end autos.

And while sales of luxury cars still lag behind those in the West, the complex China market is of growing importance to the brands at the upper end of the industry, Robertson commented.

"There’s an automotive hierarchy in China unlike any in Europe and North America. The 5-Series is a car for midlevel managers and the 7-Series is for executives – and you won’t ever see that line crossed. This hierarchy comes from a market still developing the middle and upper classes," he says. "The 5- and 7- Series have become symbols of achieving ‘membership’ in those demographics. We don’t see lines drawn like this in North America or Europe. It’s a lifestyle difference in these markets, whereas it’s a class difference in China."