Report: German mfgs cleaning up as appetite for luxury cars is 'bottomless'
While there's an undeniable story in the recovery of U.S. sales, this is even more so about China. The demand for luxury by that country's million or so millionaires and their underlings is a leather-lined sinkhole, and the three German manufacturers are doing everything they can to fill it. Their best is barely enough. Benz and Bimmer have added workers and shifts this summer to try and fill orders.
From the sounds of it, they might not be able to manage that this year – China's appetite is such that the demand "won't be easily derailed even if economic growth slows," according to one analyst. If nothing else, and assuming the analyst is correct, it should lay a decent foundation for 2011 and perhaps allay some concern about that double-dip recession talk.
[Source: Bloomberg via BusinessWeek | Image: Doug Kanter/AFP/Getty]
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