Demand for more luxurious and sporty SUVs among Chinese buyers have seen increased demand for BMW 7 series and Porsche Cayenne vehicle in the country. Chinese buyers are luxury and efficiency oriented and hence major auto companies are seeing tremendous response from this new emerging market.
Both the German auto manufacturers sell more of their limousines in China than anywhere else and the country has even overtaken US markers where total sales are concerned. Porsche too sold more cars in China during the first quarter of this year and Volkswagen sold more cars in China than what they did in Germany where demand has been at an all time high.
China’s emerging noveau riche communities have contributed to the overall success of top auto companies during the first quarter. BMW operating profits increased to €2.13 billion while Porsche operating profits rose to € 528 million. Auto companies are facing stagnation in European markets but are posting favorable numbers in China.