Part 4/10:
2024 was a challenging year for major German luxury car brands. Audi, BMW, Mercedes-Benz, and Porsche all reported declines in sales, with BMW selling approximately 2.45 million vehicles, representing a 4% drop. German luxury brands faced significant challenges in China, as local brands have gained traction and shifted consumer preferences. Audi's sales fell nearly 12%, with a particularly stark 28% decline in the Chinese market. Despite these setbacks, the brands are gearing up for launches of their next-generation EVs, which they hope will rejuvenate sales in 2025.