Consumers in China and the United States are fueling the fortunes of German luxury car makers like Mercedes-Benz, BMW and Audi. Buyers in both countries are going wild for the re-designed Mercedes-Benz E-Class, BMW 5 Series and Audi A8.
“The Chinese appetite for German nameplates is absolutely bottomless,” Sascha Gommel, a Frankfurt-based analyst with Commerzbank AG, told Automotive News. “There are more than 900,000 millionaires in China and many of them are bursting to show off their wealth.”
BMW’s all-new 5-Series is sold out across the world, while Mercedes-Benz is developing a long-wheelbase E-Class just for the Chinese market and hiring 1,800 temporary workers to help meet demand for its vehicles. Audi has also reported strong demand for their new A8 flagship.
“German luxury cars are a synonym for status, comfort and safety,” Gommel said. “Those are the traits you want to embody when you’re courting future partners for business. In China, buying a German luxury car is seen like buying a ticket to future wealth.”
[Source: Automotive News]