Women and fast cars may be the stuff of male fantasies. But it is not often that you see women eyeing sports cars. Chinese women, however, seem to be turning this stereotype on its head. Recent studies have revealed that a large proportion of China’s women millionaires (a third of Chinese millionaires are women) have been splurging on fast cars. Statistics have revealed that Chinese women have been purchasing a disproportionately large percentage of high-end sports cars. Apparently, the number of Chinese women buying Maseratis is thrice the number of women buyers in Europe. Chinese women also account for double the global average of female buyers of Ferraris.
The Chinese economy is growing by leaps and bounds, the number of Chinese millionaires is multiplying quickly and the sale of ultra-luxury vehicles in the Chinese auto market is likely to rise by 35 percent in 2011. Sales for Maseratis in mainland China increased by 50 percent last year and China looks poised to beat Italy and become the second-largest market for Maserati. While women in Europe account for 10 percent of Maserati’s sales, women in China account for about 30 percent.
Everyone, from Ferrari to Lamborghini are looking at a huge growth in the Chinese market. With more and more Chinese women taking over what was once “men’s jobs”, perhaps their need for similar rewards has increased. Fast cars are fast becoming gender-neutral buys. High-end car manufacturers’ marketing plans need to factor this in, especially as China seems poised to become the world’s largest luxury market.
Via: Business Week