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Is China The New Home For Luxury Cars?
Luxury carmakers are now taking the name of China before even their home markets and that is how the Asian giant has affected them. China has now emerged as the biggest market for luxury car brands such as Rolls-Royce, Bentley and Audi. Luxury car sales in China has grown by a whopping 1,550 per cent from 45,000 sales in 2001 to 736,000 sales in 2011.
The recently concluded Beijing Auto Show saw several new models being unveiled by these luxury carmakers. While Rolls-Royce showcased the long wheel base version of its new Series II Phantom, Bentley displayed its new limited edition Mulsanne designed to celebrate the diamond Jubilee of the British Queen Elizabeth II.
Premium sports carmakers Aston Martin and Lamborghini are also eying the Chinese car market in a big way. While the British carmaker is planning to open more showrooms in China, Lamborghini has unveiled its highly anticipated concept SUV Urus at the Beijing Auto Show.
SUVs have become very popular in China and a premium SUV will be attractive to the super rich car buyers of China. Bentley Motors also displayed its new Concept SUV at the auto show. Audi, the German carmaker has the largest market share in the premium car segment. It has stated that China will emerge as its single largest market ahead of Germany.
China's luxury car sales have increased over the years to such an extent that European carmakers who never bothered about the tastes and preferences of Asian car buyers are now developing exclusive models for China. The Dragon Edition of the Rolls-Royce Phantom is just an example. Expect more and more luxury carmakers to make a beeline towards China in the coming years.
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