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Luxury automakers set sights on China

04-26-2012 08:30 BJT

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The 2012 Beijing auto show has attracted almost all major global manufacturers. And with China's luxury market showing strong momentum in recent years, the show is a perfect platform for high-end car makers to gain a foothold.

It's state-of-the-art. Bentley showcased its SUV concept model EXP 9 F at the show. The delicate designs, strong horse power, and sophisticated interior decor present the pinnacle of the high-end concept. Maybe it is too expensive for most Chinese customers. But for the newly-rich Chinese, this car could be a future option. The luxury car market in China is significantly heating up.

Wolfgang Durheimer, Chairman and CEO of Bentley Motors Limited, said, "Until 2012, the U.S. market was our most important. But in the first quarter of 2012, the Chinese market overtook that. So now we are here in our biggest market. For this reason, it is very important to look closely what is going to happen here."

A Ferrari car is seen at the 2012 Beijing International Automotive Exhibition in
Beijing, capital of China, April 23, 2012. More than 2,000 automotive enterprises
from 14 countries and regions participated in the 10-day exhibition that kicked
off on Monday. Of 1,125 vehicles on display, a total of 120 were world premiere
types. (Xinhua/Gong Lei)

For instance, China is already the second-largest market for Ferrari after the U.S. And sports car brand Lamborghini also has its sights set on China, with the world debut of its SUV Urus at the Beijing auto show.

Steohan Winkelmann, CEO of Automobili Lamborghini, said, "We chose the Beijing auto show as the world premiere. Because the Chinese market is so important to us, and we say, it is a good moment to show our completely new car."

A model presents a Lamborghini sports car during the 2012 Beijing International
Automotive Exhibition in Beijing, capital of China, April 23, 2012. More than
2,000 automotive enterprises from 14 countries and regions participated in the
10-day exhibition that kicked off on Monday. Of 1,125 vehicles on display, a
total of 120 were world premiere types. (Xinhua/Wang Jianhua)

Despite the slowing performance of China's overall auto market, sales of high-end cars have continued to surge. China is the propeller pushing up the luxury car makers' profits.

Doug Speck, Vice President of Volvo Car Corporation, said, "The luxury business continues to grow (for Volvo), we grew last year over 50%, we expect the luxury segment this year will continue to grow and going forward, continuing to grow into the future would be what we expect."

In order to cater to Chinese buyers, a bunch of luxury car brands even customize special edition cars to appeal to the Chinese market.

The 2012 Beijing auto show has attracted almost all major global manufacturers. And
with China's luxury market showing strong momentum in recent years, the show is a
perfect platform for high-end car makers to gain a foothold.

The 2012 Beijing auto show has attracted almost all major global manufacturers. And
with China's luxury market showing strong momentum in recent years, the show is a
perfect platform for high-end car makers to gain a foothold.

The 2012 Beijing auto show has attracted almost all major global manufacturers. And
with China's luxury market showing strong momentum in recent years, the show is a
perfect platform for high-end car makers to gain a foothold.

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2012 Beijing International Automotive Exhibition

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Models at Beijing International Automotive Exhibition

 

Editor:Bai Yang |Source: CNTV.CN

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