Automakers try to grow in China by shrinking cars

Global Business

Last year car demand in China grew just 22 percent, compared to 43 percent in 2011. Now luxury car makers are thinking small to help turn their fortunes around. CCTV’s Timothy Pope filed this report from Shanghai.

Automakers try to grow in China by shrinking cars

Automakers try to grow in China by shrinking cars

Last year car demand in China grew just 22 percent, compared to 43 percent in 2011. Now luxury car makers are thinking small to help turn their fortunes around. CCTV's Timothy Pope filed this report from Shanghai.

Highlights:

  • Audi says smaller cars will play an important role in the company’s development strategy this year.
  • Smaller premium car prices start from some 200,000 yuan, which is much lower than the usual price range for the classic models of premium brands.
  • Porsche’s smaller SUV, Macan is very popular in China and it’s priced beginning at 550,000 yuan.
  • Porsche is finding that demand from the younger drivers is very high.
  • In 2014 sales volume at Maserati grew almost 150 percent to 9,400 cars in China.