China Luxury Car Market - Competitive Landscape
Global players are eying China as one of the most important international luxury car markets and the country is attracting huge foreign investment.
Earlier this year Daimler and their joint venture partner Beijing Automotive Group announced their intention to spend USD 1.37 billion to increase Mercedes capacity at their Beijing plant to double. Last year the USD 1.78 billion plant in Changshu, a joint venture between Chinese automaker Chery Automobile and Jaguar Land Rover, became fully operational. While General Motors is scaling up production capacity by 65% in the period 2015-2020, the Volkswagen Group is investing close to USD 2.5 billion in two more assembly plants in China.