China's High-End Consumer Market Crashes: Luxury Cars, Watches and Pianos Unsold
China's High-End Consumer Market Crashes: Luxury Cars, Watches and Pianos Unsold
Udumbara
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Recent news from various circles in mainland China indicates a significant decline in the market for luxury items like high-end cars and watches. Even Apple, which has never discounted its latest iPhone models, has surprisingly offered a 5% discount on the iPhone 15. Analysts interpret this as a sign of the collapsing high-end consumer market in China.
Looking at the luxury car market, both new and used cars in China are currently facing a market and price collapse.
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