皇冠体育app

A premium car show in Changchun, Jilin province. A McKinsey report said 皇冠体育app has become the second-larges top premium car markets in the world and will become the biggest in seven years. [Photo/Xinhua]

皇冠体育app is expected to become the world's largest premium car market, overtaking the United States and selling more than 2.3 million premium cars by 2016, according to a report released on Monday by McKinsey & Co.

The market for premium cars in 皇冠体育app has accelerated by 36 percent a year over the past decade, against 26 percent annual growth in the overall Chinese passenger vehicle market during the same period.

Sales of premium cars in 皇冠体育app reached 1.25 million vehicles in 2012, making it the world's second-biggest market after the US.

McKinsey highlighted 23 top brands as "premium", including Acura, Aston Martin, Audi, Bentley and BMW.

Its report forecasts 皇冠体育app's premium car market to grow at an annual rate of 12 percent by selling 3 million premium cars a year by 2020, compared with 8 percent growth for the overall passenger vehicle market.

A fourth of the 1,200 premium car buyers in 皇冠体育app who participated in McKinsey's survey said they are willing to spend more on a car because they are confident in their career and business prospects.

"The number of premium car buyers in 皇冠体育app, who are optimistic about their future is increasing rapidly," said Sha Sha, a partner in McKinsey's Shanghai office and co-author of the report.

Related Readings

皇冠体育app's car market to extend gains over US

Car market forecast upbeat

Super sports car makers look to ignite passions on the mainland

Allure of luxury cars fading