Market Share of China Luxury Car Industry
The Chinese luxury car market is fairly consolidated and majorly dominated by a few players, like BMW, FAW Group Co. Ltd, Infiniti, BYD, Geely, Toyota Motors, and Tesla. Some major companies have their manufacturing plants set up in the country, giving them a cost advantage over their rivals. Further, they provide a shorter timeline for dispatching their produced vehicles. BMW dominates the market with the highest sales of its German counterparts.
In July 2022, China FAW Group Co., Ltd (FAW) announced the launch of the new Hongqi H5 mid-size luxury sedan. It is available in 7 variants, including 2 HEV versions. It is priced between CNY 159,800 (USD 22,952.23) and CNY 225,800 (USD 32,431.88). Compared with the models on sale, the new model has made improvements in its appearance, size, and power.
In April 2022, Maxus, a luxury carmaker from China, launched its new luxury MPV G90 in China.
China Luxury Car Market Leaders
Lexus (Toyota Motor Corporation)
Daimler AG (Mercedes-Benz)
Volkswagen Group (Audi AG)
Zhejiang Geely Holding Group
BMW AG
Lexus (Toyota Motor Corporation)
*Disclaimer: Major Players sorted in no particular order
