💨 Abstract

Chinese demand for foreign luxury cars is declining as consumers prefer more affordable Chinese brands, often due to significant discounts and government subsidies for electric and hybrid vehicles. This shift is driven by economic slowdown and a reluctance to display wealth. Chinese manufacturers, like BYD, are gaining market share with competitive pricing and technological innovation. European carmakers like Porsche, Mercedes-Benz, and BMW are experiencing significant sales declines in China.

Courtesy: WTOP Staff