China drives German luxury car sales

Germany’s auto industry is rebounding faster and harder than predicted, with growth spreading to the greater economy due to the luxury-car boom in China and a weaker euro, the Wall Street Journal reported. Three of Germany’s leading carmakers said sales in China have soared over the first six months of the year. BMW (BMW.ETR) reported a doubling of first half sales to 75,615 cars with Mercedes (DAI.ETR) recording a similar growth to 60,500 units. Audi’s (NSU.ETR) mainland sales rocketed 64% from the same period last year to nearly 110,000 cars. Affluent Chinese car buyers also tend to prefer luxury sedans packed with extras making them even more profitable for the manufacturers. However, despite the impressive figures, China’s total June car sales grew 10.9% year-on-year, down from 25% in May and 34% in April.