Luxury Auto Toys

With Gucci announcing big plans for China, another Italian luxury brand has also made bold claims about the communist state.

Italian sportscar marque Lamborghini has tipped China to overtake its native country as the second biggest market after the United States in the next three to five years, according to its chief executive Stephan Winkelmann, speaking at the Reuters Global Luxury Summit.

While U.S. and Europe both registered steep declines in auto sales, China posted a 21 percent increase in the first five months of this year, Reuters reported.

In fact, China has overtaken U.S. as the world’s no. 1 auto market in January, while the latter

China’s huge potential for growth amid global slumps in auto sales have prompted Lamborghini to send its executives to China to oversee its business development there.

Winkelmann is confident the sports car culture will grow in China, as road infrastructure improves and Chinese consumers lap up more European luxury brands.

He told Reuters: “They (referring to the Chinese) change so fast. They change in a year like we changed in two decades in the past.

“They have such a knowledge about the brands and what is going on in Europe. They love what is coming out of Europe. What is European is something for them which they want to possess.”

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