Morgan forecast: Chinese luxury car sales doubled in 5 years

A few days ago, JP Morgan issued a forecast report that China's luxury car market "will increase dramatically." Although the overall industry has softened, the Chinese market has remained strong.

It is understood that in the first half of 2010, the sales volume of domestically produced luxury cars and SUVs increased by nearly 66% to 173,900 units, including the total domestic quantities of Mercedes-Benz, Audi and BMW in the Chinese market. Imported cars are still the main source of models for the luxury car market in China. In the first half of 2010, China imported 240,000 luxury cars, which was nearly 254,000 imports in 2009.

The top three brands currently ranked in the Chinese luxury car market are Audi, Mercedes-Benz and BMW. China has become the world's largest market for Audi, and Mercedes-Benz also said that China has surpassed Japan to become the third-biggest market for Mercedes-Benz, and BMW's plans for the future have already revealed the key to making China the world’s largest sales volume. Area. And in the Chinese market, sales of ultra-luxury sedans with more than 2 million yuan have already approached 800 in 2009. This year, this figure will exceed 1,000.

Both JP Morgan and JD Power believe that China’s luxury car sales this year are forecast to reach 530,000, and by 2015 sales will reach 1.1 million, more than double the number in 2010.