China's high-end car sales rebound, once again becoming the savior of German car companies
The Chinese market has once again become the "savior" of German automakers.
Car sales in the Chinese market rebounded after a halt in February, especially in the high-end car market. Insurance sales data tracked by Bernstein showed that high-end car sales in April increased by 13.6% year-on-year, narrowing the decline in sales in the first four months of this year to 14.2%. Bernstein's feedback from dealers shows that demand has remained strong this month.
Like other markets around the world, Volkswagen, Daimler and BMW Automotive dominate the Chinese high-end car market , But the advantage is more obvious. German private bank Metzler analyst Jürgen Pieper estimates that these three German automakers have a combined market share of more than 90% in China's high-end car market, compared with about 85% of the global market share of these three giants. Volkswagen owns the Porsche and Audi brands, Daimler owns the Mercedes brand.