Lamborghini: Opening dealership in Shanghai

Thursday, November 10, 2005

Lamborghini: Opening dealership in Shanghai

Lamborghini is opening a dealership in Shanghai, China.

The number of Chinese billionaires has more than tripled in the past year, according to a Forbes survey, and the surge in affluent consumers has not gone unnoticed by a number of companies including Volkswagen's Lamborghini. The luxury carmaker is exploiting China's growing taste for expensive Western goods, and on Tuesday, opened its first dealership in the populous country.

Lamborghini, overseen by Volkswagen's Chief Executive Bernd Pischetsrieder, is revving up behind Fiat-owned Ferrari, Volkswagon's Bentley and other luxury European marques heading into China to taking advantage of the increasing amount of disposable wealth. Prices for the sleek sports car start at $330,000, but that won't be a problem for the opulent residents in Shanghai. Lamborghini's market research showed that the country's biggest city was also a citadel of consumption and a promising market for its vehicles.