The number of Chinese millionaires is growing quickly, and women account for a third of that rising, prosperous population. This is lovely news to exotic car manufacturers because rich Chinese women are snatching them up like french pastries.
Sales of high-end automobiles rose 60 percent last year and analysts are already pegging a 35 percent climb for 2011. Maserati reports that 30 percent of its Chinese sales are to women, compared against 10 percent for European sales. China is now on track to pass france as the automaker's second largest market.
It's not Maserati, either; Ferraris and Lamborghinis are being bought in gigantic numbers. The rich women of China account for 20 percent of local Ferrari sales, which is double the global average. The rise in exotic vehicle sales has even gotten the attention of Bugatti, and the Volkswagen Group is now discussing a feasible sales plan for China.
Thanks for the tip, Art!
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