Wednesday, July 11, 2012

Young Man's Fancy Turns... China--it of the one child policy--to the automobile, and not just any old econobox, vroom, vroom:

Ivan Koh, president of BMW China, says that the average age of a BMW owner in China is about 30, versus 49 in Europe. Young people, he says, can get rich quite quickly as the economy booms; GDP growth rate is running at more than 15 per cent.
A staggering statistic from the Lamborghini stand at this year’s Beijing motor show was that the average Chinese owner of a Lambo supercar is aged just 28. It is not uncommon to see Ferraris and Bugattis racing each other (illegally, and usually at night) through the city streets.
The premium car market is growing fast, which is why BMW has just opened its second factory in China, in the north-eastern city of Shenyang. Jaguar Land Rover is currently in talks with potential local partner Chery Automobile about establishing a plant.
New fields for Ralph Nader?

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