FRANKFURT, Germany -- China accounted for almost 90% of sales growth at leading luxury automakers in 2017, The Nikkei has calculated, highlighting the huge market's power to make or break car companies' earnings.
Global sales at nine high-end brands -- BMW, Mercedes-Benz, Toyota Motor unit Lexus, Jaguar Land Rover, Volvo Cars, General Motors unit Cadillac, Nissan Motor unit Infiniti and Volkswagen Group members Audi and Porsche -- increased 5% on the year to 9.42 million vehicles last year. All but Lexus logged their highest-ever annual sales, while the Japanese brand scored its second-best year on record.
