Fancy Cars Attract Chinese Fans

Beijing was heated not only by early summer air， but also the auto show. An unprecedented fleet of 1，125 cars， with 120 global debut models (36 of them are from international auto giants)， are displayed at 2012 (the 12th) Beijing International Automotive Exhibition， from April 23 to May 2 in Beijing. The shinning names of Ferrari， Porsche， Bentley， Lotus， Lamborghini， Rolls-Royce， Aston Martin， Maserati， Bugatti... sparkling under the limelight， burnt the Chinese audience’s blood.

Here are some figures to have a quick grasp of how booming the luxury auto market is in China. In 2011， 777 Ferrari cars were sold to Greater China， a 62.6% increase; China became the largest market for Rolls-Royce (first time surpassed US market)， over 1，000 units sold and a 67% growth; 190 units of Aston Martin bought by Chinese， 72.7% increase in sales over the last year. Lamborghini sold 342 units to Chinese rich， 70% increase and taking over one fifth of its global sales. 785 Maserati cars were delivered to Chinese end customers， almost double that of 2010. Also， Bentley sold 578 units in China in the first three months this year， a year-on-year increase of 84.9%， and China has become its largest market too (first time surpassed US market， again). The era of ultraluxury cars is coming to China.

Fancy auto brands took the opportunity of Beijing auto show to explore the potential market. Lichen Zhang， the President and CEO of Lotus China said， “Within six months of Lotus Cars’entry into China， orders have exceeded our expectations， which has strengthened our confidence in developing the China market.” To meet the China market’s taste， Lotus launched its Lotus GTC China Limited Edition at the Beijing auto show， with limited 118 units at the retail price of RMB 2.88 million.

Rolls-Royce Motor Cars returned to Auto China with a world debut: the new Phantom Extended Wheelbase， which completed the Phantom SeriesⅡfamily. The suggested retail prices for the family are as follows. Phantom Saloon: RMB 6.88mln; Phantom Ex- tended Wheelbase: RMB 7.98mln; Phantom Coupé: RMB 8.008mln; Phantom Drophead Coupé: RMB 7.388mln. Torsten Müller-Otvos， CEO of Rolls-Royce Motor Cars was optimistic towards China market，“We will continue to grow in China. We’ve opened three new showrooms this year， with five more to come by the year end.”

Maserati brought the GranCabrio Fendi Limited Edition to Beijing and expressed that they have built up a dealership network stretching across 15 major cities in mainland China， and is to be expanded to 20-25 cities by the end of 2012. Bentley also has plan to add 10 dealers in China this year.

“During the auto show， it will be the best time to buy luxury car， as there are plenty of choices and also won’t be much markup，” said Yan Jinghui， vice general manager of an auto trading company in Beijing.

According to China Customs， China imported 294 thousand automobiles in the first quarter this year， 24.9% increase year on year. And its import value reached USD 12.59 billion in the same period， 33.6% yearly growth.

Why so many Chinese consumers can afford such luxury vehicles while its average annual income is still only RMB 24，000 for urban citizens last year? Yang Jian， managing editor of Automotive News China gave the answer in his recent article. “The first is the fast accumulation of wealth brought by decades of rapid economic growth， and the income disparity in China is widening. The second is the tastes of wealthy Chinese consumers have grown diverse，” he said.