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Lamborghini Entering Chinese Market

November 8, 2005 10:02 p.m. EST


Joanna Wypior - All Headline News Staff Reporter

Beijing, China (AHN) - Lamborghini is entering the Chinese market for the first time, a sign of further success for the booming Chinese economy and it's growing taste for expensive luxury goods.

The company will open a dealership in Shanghai, China's commercial capital.

China's richest are flaunting the latest goods with their disposable wealth, louring other luxury car makers such as Ferrari, Bentley and other luxury European marques to grab a slice of the country's booming market.

The cheapest Lamborghini model is set at $180,000. The highest-range models top $330,000.

A recent survey conducted by Forbes Asia magazine found that there are now eight billionaires in China, doubling the number from last year, while the country's 100 richest people have a combined fortune of $41 billion.

"Recent research has proven that China is the next best area for high-end vehicle growth and for that reason Lamborghini has chosen to open a dealership in China," the company said in a statement.

Recent sales in luxury cars have dipped in both the United States and Western Europe.


http://www.allheadlinenews.com/articles/7000934896
 

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I feel this is a big step for Lambo, and a needed one, nice to see the brand expand into further regions, and broaden the market...

Lamborghini opens car dealership in Shanghai

Auto icon Lamborghini opened a dealership Tuesday in China's commercial capital of Shanghai, looking to the country's newly affluent to weather slowdowns elsewhere.

Lamborghini, owned by Germany's Volkswagen AG, says market research showed Shanghai, the country's biggest city and a virtual citadel to conspicuous consumption, to be the most promising market for its vehicles, which cost $330,000 and more.

The dealership, which is along the city's main east-west thoroughfare, will carry the company's complete model lineup, the company said in a statement.

Luxury sports cars are still way outnumbered by standard Volkswagen and Buick sedans on China's jammed city streets, but foreign luxury carmakers are still racing to boost sales. General Motors Corp. makes Cadillacs in Shanghai and European brands such as BMW and Mercedes-Benz also operate assembly lines in the country.

Fiat-owned Ferrari, VW-owned Bentley and others have set up nationwide sales networks.
 

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ShangHai is a 1.5 hr flight for me. I read about the first sale to a Chinese businessman for the sum of $4,300,000-RMB dollars ( Approx. $537,000 USD )

Import duties for luxury cars has been reduced over the years making imports more affordable.
 
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