China market rout, slowing economy sap demand for luxury cars

BEIJING: Prices for German luxury cars in China are tumbling as the country's stock market sell-off and worries about broader economic growth chill demand for auto brands that once commanded price premiums from affluent Chinese consumers.

At Mercedes-Benz stores operated by a dealer group with nearly 200 multiple brand outlets, customer traffic at showrooms has dwindled markedly since mid-June, when a stock market slide that saw indexes plunge by as much as a third began.