As the West is being exhorted to contract it’s economies and give up on large automobiles, the Chinese are developing a taste for them. This is the “converge” part of the “contract and converge” policy espoused by the UN. For more on the UN-IPCC socialist ideology of “contract and converge” — that is wealth transfer from the USA to the developing world — see:
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“China’s imported auto market continues to flourish with sales of 460,000 in the first seven months of this year. It represents a growth rate of 150% compared with the same period of last year.
“Imported cars are no longer a poor relation of domestic cars in the Chinese market but form a sector that is developing rapidly with its own style and is more personalized to meet customers’ demands,” said Shen Jinjun, vice-president of China Automobile Dealers Association, speaking during the Imported Auto Expo Beijing 2010.
The growth rate of the foreign high-end auto brands such as Audi, Mercedes-Benz and Lexus has exceeded 100 percent – far higher than that of other imported cars. (more…)