Mexican Media Brands
Cadillac Says Luxury Models Will Outpace China’s Car Market
General Motors Co.’s Cadillac unit expects China’s demand for luxury cars will continue to outshine the country’s overall automotive market this year, Bloomberg News reports.
#economics
Share
General Motors Co.’s Cadillac unit expects China’s demand for luxury cars will continue to outshine the country’s overall automotive market this year, Bloomberg News reports.
China’s overall passenger car market is expected to expand by about 6% this year. But demand for luxury vehicles could grow as much as 11%, says Andreas Schaaf, a vice president with Cadillac China.
Schaaf tells reporters at the Shanghai auto show that China is likely to surpass Europe as the world’s largest luxury car market by 2020. Cadillac’s first-quarter sales in the country nearly doubled to 34,000 units. Schaff says 40% of Cadillac customers in China are first-time car buyers, and the brand’s average buyer is 32 years old.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.