For the past few years, Europe’s luxury carmakers could count on one thing: however fast China’s car market was growing overall, luxury car sales would grow even faster, writes Patti Waldmeir.
But in the first quarter of this year, that pattern was reversed, with premium car sales up only 4 per cent compared with 17 per cent growth in the light vehicle market as a whole.
If this slowdown persists, it could send a chill through the hearts of premium carmakers worldwide, since they depend heavily on the luxury-loving mainland market for profitability, say auto analysts in China.
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