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Future of Luxury Cars in China Looks Bright, Market to Expand at 12% CAGR from 2014 to 2020

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Published on : Jun 27, 2016

ALBANY, New York, June 28, 2016: A new market research report, titled “Assessment of China's Luxury Car Market 2016,” has been featured on ResearchMoz.us. The report covers the developments and prospects of the luxury car market in China. According to the report, the luxury car market in China is expected to expand at a 12% CAGR from 2014 to 2020. Around 1,744,103 premium cars were sold in China in the first 11 months of 2015. Though the second half of 2015 witnessed a slow growth of the luxury car market in China, sales have picked up in 2016 and the future of the market looks bright. The report predicts that China will become the world’s largest luxury car market, leaving the U.S. behind. 

Luxury cars, as the term suggests, are cars that offer enhanced performance, comfort, higher quality equipment, precise construction, and technologically advanced features that convey an image, prestige, or brand status. 

The Chinese government’s corruption crackdown had dampened the luxury car market, which led to a fall in sales in 2015. The sectors that got affected adversely were business jets, yachts, and luxury cars. However, as of now the Chinese luxury car market is set to benefit from the rise in investments by global players. Local production of luxury cars will lead to an overall advantage creating a streamlined value chain in China. Localization will also help ensure that the luxury cars market will enjoy the benefit of reduction in import duties. The players in the market are expected to strengthen the local production facilities and launch newer models, which are expected to attract the younger, wealthy population. 

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The report investigates the key dynamics of the China luxury car market. The opportunities in the luxury cars sector and performance of the market players have been studied. The statistics and performance of the market in the past have been examined. Emerging trends, challenges, and market drivers have been studied. The competitive landscape of the luxury car market in China has been studied in detail. 

The report profiles the leading manufacturers operating in the luxury car market. Important information such as business overview, financial overview, product picture, and specification is given. The report analyzes the key factors aiding the growth of each of the companies and also the challenges faced by them. The strategies and tactics adopted by each of the companies are also given. The recent developments of the companies and information regarding mergers and acquisitions are presented in the report. This fruitful information can be utilized by new entrants or existing players to make smart decisions regarding investments in the luxury car market. 

Following are the companies operating in the luxury car market that have been studied: Volkswagen AG, Daimler AG, Bayerische Motoren Werke AG (BMW), Tata Motors Limited, General Motors Company, and Maserati S.p.A.

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