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The Luxury Car Market Is Crumbling from the Top Down

Summary by The Drive
Luxury brands are scrambling to attract a shrinking population of whales who are no longer eager to open up their wallets.

3 Articles

China's economic slowdown has dampened consumer demand for luxury cars, leading to a shift from price gouging and panic buying of luxury gasoline vehicles to price reductions and continued price declines. A Land Rover salesperson in Beijing stated that the store loses approximately 70,000 yuan on every Land Rover Defender 110 sold. Meanwhile, sales of brands such as Mercedes-Benz, BMW, Audi, and Porsche are also declining.

·New York, United States
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The Drive broke the news in Miami, United States on Friday, August 14, 2026.
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