We have reported on the incredible growth across the luxury fashion houses in China, but there is another luxury industry that is appealing to the Chinese.. Cars and fast ones at that.
Over the years China has become a critical market for the luxury car companies such as Bentley, Aston Martin, Bugatti and Ferrari.
But has the luxury car companies had their moment in the sun?
Possibly, according to Italian luxury car maker Lamborghini who are aware of the warning signals of slow growth in the broader Chinese economy which may crimp demand for luxury supercars in 2012.
2011 was a stellar year for Lamborghini who’s car sales in China alone surged by 70 per cent.
Jing Daily reports that Christian Mastro, Lamborghini’s Asia Pacific general manager, said in a recent interview, “If you look at the economy right now, there may be some uncertainty to make people wait a little,”
“The number of people able to spend this kind of money is limited, it’s not unlimited.”
Bloomberg adds that Rolls-Royce Chief Executive Officer Torsten Mueller-Oetvoes predicted last month that China’s growth will be less “explosive” this year. Total auto sales slowed last year after the end of stimulus measures and the economic expansion showed signs of easing.
But don’t expect the Chinese luxury car market to just dip yet with the news that the 80 of the Aventadors that Lamborghini allocated to the China market have already sold out.
What GFC you say?
Image credit: insightcarsupdates.com
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