Sales of British luxury Bentley cars to China fell 17 percent in the first nine months of 2013, adding to other indications that the market for high-end goods in China is shrinking.
Sports car maker Lamborghini and firms such as LVMH and Burberry have warned of a significant slowdown in China over the last year due, in part, to a crackdown on lavish spending as well as a slowdown in growth. Analysts say luxury cars, which have come to symbolise corruption in China, are especially vulnerable to the crackdown.
Bentley Motors, owned like Lamborghini by Germany’s Volkswagen, hopes its Chinese slowdown is a blip and that the launch in China of its redesigned Flying Spur, which has a six-litre, 12-cylinder engine with a top speed of 200 miles per hour, will boost sales there.
Sports car maker Jaguar, which pitches its vehicles at a slightly lower, broader segment of the luxury market, appears to have bucked the trend with the help of its new F-Type model, increasing its sales in China by 122 percent this year. Jaguar is part of Tata Motors’ JLR.
Bentley delivered 1,264 cars to China out of the 6,516 deliveries worldwide in the first nine months of 2013.
Read more at Reuters