WNA Globe

World News by Wild Rose

#luxury cars ร—

Foreign carmakers lose more traction in China as luxury stronghold erodes

International luxury car brands from Mercedes-Benz to Land Rover took a further beating in China last month as wealthy consumers continued to shun expensive petrol-powered vehicles. Struggling against competition from Chinaโ€™s rising electric vehicle (EV) powerhouses, international marques would find it more difficult to retain their market share and maintain profitability in the worldโ€™s largest automotive market, analysts said. According to data from the China Passenger Car Association (CPCA),...