In 2009, China’s car market overtook America’s as the world’s largest, says Lex in the FT. Sales grew by 14% a year on average for five years. But the market may be maturing.
A cooling economy and crackdowns on corruption, pollution and price-fixing has tempered growth. And at the premium end, “the sales mix is shifting towards affordable luxury”. In 2014, the number of cars sold grew by just 10%.