Hong Kong - In a city that has a higher proportion of Rolls- Royces than anywhere else in the world, soaring fuel prices have led motorists to shun luxury, petrol-guzzling cars in favour of fuel efficient vehicles, a media report said Monday.
Sales of new cars such as Mercedes Benz and BMW with engines of 3,500cc or larger have fallen about 5 per cent since May when oil topped 120 dollars a barrel, the South China Morning Post said.
"The trend was even more apparent in the second-hand market, which saw a drop of about 7 per cent in price for BMW sedans and its comparable middle-price series," said James Kong, vice-president of the Hong Kong Automobile Association.