Luxury Carmaker Looks To Chinese Market For Sustained Growth Over Other Emerging Markets Like Russia
There has been quite a bit of news this week about predictions by the CEO of Lamborghini that China will overtake Italy as the second-largest market in the world for Lamborghini within three to five years, trailing only the United States. Lamborghini has aggressively sought growth in the Mainland market since opening its first dealership in Shanghai in 2005. The company’s expansion in this potentially vast market has been meteoric, with Chinese sales expected to account for much of Lamborghini’s Asian sales by 2012. While much of this comes down to the reduced demand for ultra-expensive autos in developed markets, it has been bolstered by Lamborghini’s sustained efforts to build a strong foothold in China, an effort that has been helped by an existing taste for expensive European goods.
As Reuters illustrates, Lamborghini is banking on a continued appetite for expensive European brands in the Mainland market, and has sent managers to China with the express task of cutting through any obstacles that still remain to reaching as many wealthy buyers as possible: