Market Developments
Rolls-Royce
China is now Biggest Asian Market
China overtook Japan as Asia’s biggest market for Rolls-Royce cars in 2006. With rising wealth on the mainland, the company is set to sell at least 70% more vehicles in 2007 when compared with just two years ago.
The manufacturer of exclusive, mostly custom-made cars produces just 800 vehicles a year, and China’s share is set to grow quickly from nearly 10%. China is now the third-biggest market for the company, after the United States and Britain and is expected to move into second place within five years.
Once known as the bicycle kingdom, the mainland has seen car ownership increase 30 times between 1985 and 2004. Riding on this, Rolls-Royce plans to open three more dealerships in the country this year, in addition to its current four offices in Beijing, Shanghai, Guanzhou and Hong Kong. The new dealerships will be located in Shenzhen, Hangzhou and Chengdu.
Reported by Danny Chow.