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Import Car Show showcases foreign cars to Chinese buyers
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CNTV, November 14, 2011
As China's middle class continues to grow, foreign car makers are looking to cash in on the world's largest auto market. Serving as the driving force in reaching millions of Chinese car buyers, the 2011 China Import Car Show has attracted more than 100,000 visitors by showcasing their flagship models of luxury cars.
Luxury car makers like Ferrari are speeding ahead in the race to tap China’s rapidly growing middle class.
Year after year huge numbers of new millionaires emerge, looking for ways to enjoy their new-found wealth... and luxury cars have been a fast way to drop several hundred thousand yuan in one go.
To cash in, auto makers showcased more than 200 luxury cars at this year’s Beijing Import Auto show.
Foreign luxury brands are coming in greater numbers than ever - Ferrari... Jaguar... and Cadillac...... they’re all here.
36-year-old businessman Feng Jun is your typical breed from China’s newly rich, who want their choice of wheels to say something about their success.
Feng Jun said: "The car you drive expresses your lifestyle. I want to have a lifestyle different from others so I want a special car. What’s more, I love cars and there are all different types of import cars in China - and I can afford to buy one."
China now has more than a million millionaires, thanks to economic growth, savings and a strengthening currency. The average Chinese millionaire is 39 years old, a full 15 years younger than the average millionaire in the US.
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