With Beijing’s motor show little more than two months away, there are signs that sales of supercars in the country are slowing as the economy weakens.
Lamborghini, which makes the US$1m Aventador LP 700-4, said it expects sales of ultra-luxury sports cars to slow because of economic uncertainty.
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Christian Mastro, Lamborghini’s Asia Pacific general manager, said: “The number of people able to spend this kind of money is not unlimited.”
Lamborghini sales jumped 70% in China last year as rising incomes pushed up the number of Chinese millionaires but growth in the country cooled to its slowest pace in more than two years in the fourth quarter and the trade ministry has described the country’s export outlook as “grim”.
Lamborghini expects deliveries in China to increase by 20-30% this year, less than half the pace of 2011 when it struggled to meet demand, Mastro said. Like other supercar makers, it expects the segment will grow about 25% to about 2,000 cars this year. Last year it doubled.
Lamborghini is increasing its dealer network in China from 14 to 20 and plans to increase its marketing spend by 20%. Mastro said the typical Lamborghini buyer in China is, on average, 20 years younger than in Europe and Chinese customers have to wait at least 18 months before taking delivery of the Aventador.
Lamborghini plans to make 900 Aventadors this year and has sold out all 80 allocated to China this year, Mastro said. The company sold 342 sports cars last year in China which overtook the US as its largest market.
Last month, Rolls-Royce chief executive officer Torsten Mueller-Oetvoes predicted that China’s growth will slow this year. Total auto sales slowed last year after the end of stimulus measures and the economic expansion showed signs of easing.
