Traditionally, the luxury sports car market is dominated by men. However, in China, women are leading the way in purchase of exotic cars.
China’s millionaires are growing by the minute. Sales of high-end automobiles rose 60 percent last year and analysts are already pegging a 35 percent climb for 2011.
A third of China’s millionaires are women so that means the sales of exotic cars is going to be huge. Already, the percentage of women buying Maseratis in China is triple that of Europe, while the percentage buying Ferraris is double the global average. Maserati reports that 30 percent of its Chinese sales are to women, compared against just 10 percent for European sales. China is now on track to pass Italy as the automaker’s second largest market.
The rise in exotic vehicle sales has even gotten the attention of Bugatti, and the Volkswagen Group is now discussing a potential sales plan for China.
The craziest thing about this sales growth is that the cars sold in China cost typically double the price compared to those sold in the U.S.. The reason for this is the high tariff for cars assembled overseas (Almost all luxury sports cars are not assembled in China).
I guess that’s why you call them crazy rich…