China's women buy Maseratis and Ferraris like Italian pastries
Updated: 2011-07-06 15:33
(chinadaily.com.cn)
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Chinese women buy three times more Maseratis and twice as many Ferraris than Western women, according to a blog article published on Forbes.com on July 4.
As female enjoy greater freedom and opportunities in the world's fastest economy, the number of wealthy women is also on the increase. In fact, a third of China’s millionaires are women, and "they buy a disproportionately large share of high-performance sports cars".
Citing a report by Bloomberg, the article says women buyers account for 30 percent of Maserati's China sales, compared with less than 10 percent in Europe, and they generate about 20 percent of Ferrari's mainland sales, more than twice the global average.
According to Fiat, the GranCabrio convertible?- a model of Maserati?- with 433 horsepower costs $406,656 and the GranTurismo S coupe $391,527, while A Ferrari California sports tourer costs $527,924 in China, compared with $200,000 in the US.
The rise of women entrepreneurs in China?- more than half the world's richest women are Chinese according to Hurun Report?- is propelling their share of luxury spending, says the article, citing the Financial Times.
"In China, women are ambitious...so they will buy more 'high powered' products than women in the US or Europe," says Tom Doctoroff, greater China head of JWT, the advertising agency. "A woman here needs to project her power in ways that a western woman simply does not need to."