300,000 Chinese millionaires in China, Rolls Royce trying to get some of them

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300,000 millionaires in China – that number alone shocks us, we’re talking USD millionaires and not RMB millionaires. China Car Times needs more clients if we’re to get into the USD millionaire sector of Chinese society. Perhaps then we can afford a new Roller:

WHEN the top slowly unfolded, it became clear that the latest Phantom super luxury car from Rolls-Royce Motor Cars will woo Chinese buyers.

The Rolls-Royce Phantom Drophead Coupe, a two-door, four-seat convertible, arrived in Shanghai yesterday, the second stop after Beijing in its Asia tour.

The luxury car unit under BMW AG has set the price tag at US$407,000 worldwide for the hand-crafted model. Cost is expected to exceed 6.2 million yuan (US$818,000) in China with tariff and tax when it hits the market as early as the year’s end.

China’s economy, with the fastest growth of any major country, has created more than 300,000 millionaires in greenback terms nationwide.

Increasing wealth is boosting the sales of super luxury models like Rolls-Royce and Bentley in addition to BMW, Mercedes-Benz for everyday use. Last year, Rolls-Royce’s sales rose 60 percent to 70 units in China, accounting for nearly 10 percent of its global record, said Colin Kelly, regional director for Asia Pacific.

China also became its third biggest market after the United States and Britain.

“The encouraging sales just demonstrate the strength of the market,” said Kelly.

The new Drophead coupe completes a three model line-up for Rolls-Royce in China, joining the Phantom and Phantom Extended Wheelbase. The car maker plans to add two more showrooms in China this year in addition to the existing five dealerships.

“The Chinese market is the emerging market and needs time to better cultivate ahead of a sales pick-up,” said Zheng Jinlan, general manager of China.

Production of the Drophead coupe has just started. They are so exclusive that only about 200 models are scheduled for a whole year.