Chinese college students in the U.S. have become an important segment of the car business. In the 22 months ending October 2013, this group bought over $15 billion worth of cars.
About half of them were new "with an average purchase price of $52,796; and 32 percent of buyers paid cash."
How does this compare to U.S. students? "About 40 percent of their U.S. counterparts purchased new vehicles, with an average price of $19,472."
Dealerships around some universities now say Chinese students amount to as much as 15% of their sales, and some have hired employees who speak Mandarin and Cantonese. There are about three times the Chinese students in this country now as there were in 2003.
From: Bloomberg Businessweek.com
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