China to Become Smart Brand’s Biggest Market

Daimler AG tells reporters in Shanghai that China is likely to become the largest national market for its Smart minicar within the next few years.

The company sold a record 17,500 of the tiny two-seater ForTwo cars in China last year and expects to post modestly higher volume for 2014. The car retails in the country for about 115,000 yuan ($18,600).

Daimler notes that growth in demand for large German luxury cars has slowed in China, but the small-car market remains strong. Smart expects double-digit growth in 2016 as it expands its offering with a four-passenger model.