Shanghai November 1 (Gasgoo.com) Sales of luxury marques such as Bentley, Ferrari, Maserati, Rolls Royce, etc. are growing rapidly in China's second- and third-tier cities like Tianjin, Erdos, Xi'an, Dalian, Xiamen, Chongqing...as the country's booming economy has provided more people with opportunities to amass enormous wealth, along with greater purchasing power, China Times reported Monday.
The all-new Bugatti sports car worth 38 million yuan ($5.7 million) was reportedly ordered after being showcased for less than an hour in its first day at the 2010 International Auto Show held in Ordos during September 30 to October 4. The exhibition generated total sales of 90 million yuan on the same day, when one 15 million yuan Maybach car, two invaluable Lamborghini cars and five Bentley cars were sold. "It was totally unexpected, a real surprise," dealers said. Meanwhile, Shen Qi, senior network development manager of Bentley China revealed that the company will open new dealerships in inner Mongolia in the next 18 months.
Coincidentally, at the recently ended 2010 Chengdu Auto Show, 317 luxury cars worth hundreds of millions of yuan each were sold, compared with the total sales of 5,326 vehicles. According to sources, Bentley sales reached over 40 million yuan during the seven-day event attributable to three Bentley Mulsanne cars with 5.5 million yuan per unit, and five Bentley Continental cars worth more than 3 million yuan each and Bentley Continental Flying Spur cars. Moreover, 72 Land Rover cars and 8 Lamborghini, Rolls Royce and Aston Martin cars, as well as 14 central European-style motorhomes with average unit price of 1.35 millon yuan, were sold meanwhile.
Bain & Company said in its latest report that the global luxury goods market is approaching to the level before the international financial crisis, to which Chinese consumers are making the greatest contributions. In the past year, sales of luxury goods in China increased by 30%, an increase once again ranking the country in the first place in all regions worldwide, and making it the world's third largest luxury goods market for five consecutive years.
Among Chinese upstart consumption of luxury goods, luxury consumption in automobile accounts for 40% of the total, followed by luxury consumption in dwelling with 38%, in apparel, jewelry and works of art with 9%, in private planes with 4%, in traveling with 1% and in other aspects with 8%.
