Audi Confident in the Growth of the Luxury Auto Market in China image

Although luxury vehicle market growth in China has slowed to 4% Audi still succeeded in reaching strong sales results.

Audi managed to surpass its competitors with a 14% sales growth and total sales reaching 110,000 vehicles. Audi CEO Rupert Stadler said that he does not believe that growth in the auto luxury market is slowing down, and that it is just an illusion created by the declining sales of the automaker’s competitors. Stadler sees growth rate in China this year be between 10% and 15%, in his opinion a goos result compared with other markets.

Audi relies on its A3 sedan and S3 sedan models which recently made their global debuts at the Shanghai International Automobile Industry Exhibition and five other models which made their regional debuts at the same show. The A3 will hit the market in 2014 and will be manufactured at FAW-VW’s factory in Foshan, Guangdong.

Stadler also said that the Chinese luxury vehicle market still ahs an enormous growth potential taking into consideration that in this country there are between 80 and 100 vehicles for every 1,000 people in the Asia market, compared with 500 in Europe.

Source: Automotive News