Strong luxury-car sales unaffected
China Daily | Updated: 2014-07-07 07:08
The slowdown in economic growth and government efforts to curb extravagance will not affect sales of German luxury cars in China due to robust demand, according to a senior commerce official.
Instead, German vehicle companies are relying more heavily on Chinese buyers and have intensified their competition in the market, said Meng Fanzhuang, minister counselor of the Chinese embassy in Germany.
He said there is a widely held view in the German car industry that although China saw slowing economic growth since last year, and the authorities have tightened spending on high-end vehicles for official use, there remains a huge market in the world's second-largest economy.
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