Honda showed the Acura Concept SUV-X in Shanghai earlier this year. The production version could become Acura's first made-in-China model in 2016. Photo credit: Honda

Luxury cars are huge in China, where Volkswagen's (OTC:VWAGY) Audi brand rules the market, a market that is expected to grow rapidly for years to come. A bunch of big global automakers, including both General Motors (NYSE:GM) and Ford (NYSE:F), are angling for a share of this rich pie -- and now, Honda (NYSE:HMC) is throwing its hat into the ring.

Honda is now saying that it will build Acuras in China starting in 2016, most likely starting with the small SUV shown above. In this video, contributor John Rosevear looks at Honda's plans for this booming market -- and at whether 2016 might be too late to join the party.