A luxury BMW

It's worthy to become a Chinese people's favorite car brand, especially as a luxury car brand in China's market.

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According to 2013 World Luxury Index, which was released by Digital Luxury Group, China will become the world's largest market for luxury cars within six years. What are Chinese people favorite cars? Audi (No.1) and BMW (No.2) maintain their leadership position in the luxury car segment. Lexus (now No.3) beats the German trio, moving ahead of Mercedes (now No.4).   

Currently, China has already achieved a dominant position in the world's car sales market. Nowadays, China begins to take the place of USA step to step, to become No. 1 market for luxury cars in the world.

Last week, General Motors said it aims to have a 10% market share in the luxury cars segment by 2020. Cadillac, GM's star model, is one of the top-10 luxury cars loved by Chinese rich car consumers. Last year, General Motors sold 30,010 Cadillac cars to China, comparing with 149,782 in the U.S. But the company still hopes to expand its market share by 2020, and it is planning to sell around 250,000 Cadillac cars to China. As we know, GM has spent lots of time and effort catering for the particular need of Chinese consumers. Many companies believe that China is a good place to invest, in spite of its economic slowdown.  

According to McKinsey & Company, China will be take control of 40% of the world's luxury car market by 2020. Last year, China automakers sold 19.3 million vehicles in China, from Buicks to Chery QQs. The amount is nearly five million more than the USA.

If China's middle class consumers spend more than they save, and if the economy can avoid a hard landing, just as many economists suspect. Then the Chinese market is estimated to have 25 million cars sold every year by 2020.