China to become Lamborghini’s biggest market
September 29, 2011 Category Automotive, Automotive Metals & Minerals
Italy’s Automobili Lamborghini Holding expects that by next year at the latest, it will be the first super sports car brand to have China as its biggest market, said President and CEO Stephan Winkelmann. In the first eight months, the company sold close to 200 of its powerful super sports cars in China, equal to the total for last year, when sales skyrocketed 150% year-on-year. Full-year 2011 sales are expected to hit 300 vehicles in China, Winkelmann said, adding that the new Murcielago model, which starts deliveries in October, will propel sales. As recently as 2007, Lamborghini only sold 28 cars in China, which wasn’t even in the company’s top 10 markets at the time. The sales boom of the past five years far exceeded the company’s expectations, said Winkelmann. By year-end, Lamborghini plans to have 20 dealers across the nation. “China has caught up with the U.S.” as a top market for premium car brands, said Zhong Shi, an independent auto analyst. “China has greater potential for sustainable growth. There are always ‘new rich’ and emerging wealth from all social backgrounds,” he added. Amedeo Felisa, CEO of Ferrari, earlier this year told China Daily that he believes China has the potential to be Ferrari’s second-largest market in the near future. The company expects to sell 600 vehicles this year in China, double last year’s figure, the China Daily reports.
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