From: David Stern al===> To: Jeffrey Epstein <[email protected]> Subject: Bentley in China Date: Thu, 25 Nov 2010 10:46:03 +0000 Bentley in China British luxury carmaker Bentley Motors Limited expects to double its sales in the Chinese market this year, thanks to the rising appetite for luxury automobiles. "Our annual sales in China this year will be at least double the figure in 2009 and probably hit 1,000, as we see strong growth momentum here," Zheng Biao, director and general manager of Bentley's Chinese division, told China Daily. Bentley sold 421 cars in China last year, making the country its third-largest market, following the United States and the United Kingdom. In the first half of this year, Bentley sold 376 cars in China, soaring by 116 percent year- on-year. Owned by Germany's Volkswagen Group, the luxury car brand now has 11 stores in China and most of its autos are priced between 4 and 5 million yuan ($597,997 and $747,496). To meet the robust demand, Bentley is expanding its sales network in the country at a faster pace than expected. Next year, the number of Bentley stores in China will reach 22, mainly targeting China's second-tier cities including Shenyang, Dalian, Taiyuan and Xi'an. "Cities in Northeast and west China are our next targets, because we aim to broaden our outreach to all places with strong economic growth," Zheng added. "With the rapid development of our business, now we have nearly accomplished the five-year plan we made one year ago," Zheng said. Last year, Bentley announced it would expand its network in China to 30 by the end of 2014, with an investment of 300 million yuan. Following the initiative, Bentley promised to add more investment to the expansion of its dealership network and brand advertising. Zhang said we will surely invest more to China but the specific plan is still under discussion. Apart from Bentley, other luxury carmakers also see robust growth in the Chinese market. China Times