Rolls-Royce Leads Luxury Fleet to China

With a sale of 14 Phantoms to a Hong Kong hotel, the fabled British carmaker is riding a wave, and Infiniti, Acura, and Lexus are in the wake

The headlong dash by global automotive players to set up low-cost manufacturing capacity in China's hyper-growth auto market is a familiar story. So is the relentless price-cutting pressure and profit margin squeeze foreign car companies face when they are up and running. As any auto exec will tell you, the mainland is an extraordinary growth story—and simultaneously one of the most cutthroat markets on the planet.

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