As early as 2011, China will become Rolls-Royce Motor Cars Ltd.'s biggest market, surpassing the United States. BMW AG's luxury nameplate sold about a third of its cars in the U.S. in 2009.
In 2011, Rolls-Royce plans to sell 800 cars in China as it seeks to increase sales eightfold in two years in the world's largest auto market.
In the first 10 months of 2010, Rolls-Royce delivered nearly 500 cars in China, compared with about 100 for the whole of 2009, Rolls-Royce's Asia Pacific regional director, Paul Harris, said.
Rolls-Royce's China sales include that of Hong Kong. Competing with Volkswagen AG's Bentley and Daimler AG's Maybach, Rolls-Royce is selling more of its Ghost and Phantom sedans in China as surging incomes in the world's fastest growing major economy boost luxury car sales.
In an April 2010 report by the Shanghai-based Hurun Research Institute, it was found out that China currently has about 875,000 millionaires, about 6.1 percent more than in 2009. In the U.S., the Phantom starts at $380,000.
In China, a Phantom starts at CNY6.6 million ($990,000) and buyers pay CNY4.1 million for a Ghost in China where consumers pay higher taxes on imported luxury models. [via autonews - sub. required]