Race is on to luxury market

Report: Global icons localize to be competitive in fierce market

Following a nearly five-fold increase in sales over the last decade, automakers are further ramping up efforts in the China market as premium brands continue to rise, according to a recent report by PricewaterhouseCoopers.

The multinational professional business advisory forecasts the Chinese luxury car market will have annual sales surpassing 3 million units by 2020.