Japanese Luxury Automaker Plans To Open Beijing Showroom By Q1 2010
The Mitsuoka Orochi will retail for around 800,000 RMB (US $117,177) in China when it arrives next year
The growing Chinese luxury market is a prime target for many Asian companies that have found demand in their home countries — mainly South Korea and Japan — either growing at a snail’s pace or simply remaining stagnant. As formerly luxury-mad consumers in traditional markets like Japan cut back on their spending, high-end Japanese companies have started to look abroad for more opportunities, with China remaining the natural choice as a result of its proximity and massive population.
Recently, Japan’s Mitsuoka Motor Co., one of the country’s major luxury automakers, announced their plans to enter the Chinese market next year, starting with a showroom in Beijing that is slated to open in April. To lead their China efforts, the company will display their Orochi model at next year’s Beijing Auto Show and follow up their Beijing strategy with new dealerships in other top-tier cities:
The Orochi will spearhead Mitsuoka’s debut into China. The company plans to display the car at next year’s Beijing Auto Show, and to open dealerships in Beijing, Shanghai and Guangzhou.
Posted in Automobile, Business, China, Investment, Luxury
Tagged auto, Automobile, beijing, car, China, Economics, guangzhou, japan, japanese, Luxury, mitsuoka, mitsuoka orochi, orochi, shanghai, vehicle
Will Bentley Follow The Success Of Rolls-Royce In The Chinese Market? Or Will More Chinese Luxury Buyers Opt For Rival Brands?
The Bentley Mulsanne includes many features popular in the Chinese market, such as a spacious interior and chauffeur-ready driver's seat
As we’ve pointed out time and time again, with the global doldrums cutting into the vehicle budgets of many luxury consumers in developed markets like North America, Japan and Europe, high-end car companies like Rolls-Royce have increasingly looked to emerging markets like China to get them through the economic crisis and create a new, loyal buyer’s market. As Chinese luxury models become more prevalent (and popular) over time and truly begin to rival the dominant luxury models by BMW, Mercedes-Benz and Porsche, automakers at the highest end are already starting to plan ahead for a strong China strategy to ensure their brands remain at the top of the heap for years to come.
Following the lead of the 2010 Porsche Panamera, which was unveiled at this year’s Shanghai Auto Show, Bentley has taken the lid off of its 2011 Mulsanne, with what is sure to be an eye towards the Chinese market — where the country’s ultra-rich still have no domestic alternative that can match Bentley quality. After making its initial debut in August, the Mulsanne has become the talk of the high-end luxury scene, not least because it is the first all-new Bentley model to roll off the production line since the 1930s. As Motor Authority writes, though this car is most certainly beyond the budgets of most lustful car enthusiasts, it is a sight to behold and has an engine to match:
Posted in Automobile, Business, China, Luxury
Tagged Audi, auto, automotive, bentley, bentley mulsanne, bmw, car, China, chinese, ferrari, mercedes, mulsanne, porsche, rolls-royce, sports, vehicle
Analysts Indicate That Low Ownership Rates, Government Subsidies May Spur Faster Growth Of World’s Largest Auto Market
Dongfeng is looking to compete with other domestic Chinese brands to capture market share from foreign competitors
From the recent Shanghai Auto Show to news that the Chinese government plans to offer higher subsidies for consumers trading in old vehicles for new ones, China’s auto market has been a busy place in recent months. With the sluggish performance of carmakers in more developed global markets, the news that auto shares in China — currently the world’s biggest car market — are expected to outperform this year will, in many ways, comfort global auto companies.
However, as we have previously discussed, the news that Chinese car buyers are growing rapidly as a consumer base shouldn’t be enough for foreign automakers — as domestic brands like BYD, Geely, Chery and others vie for dominance in this rapidly-changing market, foreign automakers will have to invest heavily if they are to keep the lead they have built in the last 10-20 years.
Posted in Art, Automobile, Business, China, Investment, Luxury
Tagged Automobile, beijing, bmw, car, chery, China, dongfeng, geely, great wall, marketwatch, porsche, shanghai, shanghai auto show, vehicle
Formerly Budget-Focused Brands Like Geely Shifting To Lucrative High-End Consumer Segment
The Chinese middle class is an important and growing consumer segment, and Chinese domestic brands are increasingly relying on this group's future purchasing power to drive global growth
The Wall Street Journal has a great profile today about Chinese auto brands that have shifted 180 degrees in the last few years, changing their target market from the younger, budget-conscious first-time car buyer to wealthier buyers who may already own one or more vehicles. This represents a very significant change in tactic on the part of Chinese automakers, who until recently had all but given up on this consumer bracket, apparently convinced that it would be impossible to compete with foreign luxury carmakers like Mercedes and BMW, two brands that have made commanding inroads in the China market.
Posted in Automobile, Business, China, Economy, Luxury
Tagged Automobile, benz, bmw, BYD, chery, China, ford, geely, Luxury, mercedes, porsche, saab, vehicle, wealth