Rich Chinese Fancy Luxury Cars – Jason Leow and Gordon Fairclough

From The Wall Street Journal:

In the 1990s, many in China considered Volkswagens high class. But today, well-to-do Chinese are hankering for Bentleys, Ferraris, Mercedes, Audis, deluxe Cadillacs and even Rolls-Royces, reflecting the nation’s growing wealth — and a new boldness about showing it off.

Luxury cars entered the Chinese market more than a decade ago, but demand was confined to a sliver of the privileged class — usually high-level bureaucrats and officials — who had the connections and the money to import the cars from Europe and the U.S. Hardly any high-end vehicles were produced locally….[Full Text]

– Photo: A Rolls-Royce on display in China, where sales of the car rose more than 60% last year

April 12, 2007 12:19 AM
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Categories: Economy, Society