In addition to quick expansion in production and sales, China's auto market is also starting to embrace sports cars. More sports car makers are working to break into the world's third biggest market, where Ferrari and Porsche AG dominate due to stronger brand awareness. It's that lack of brand awareness that poses the biggest challenge for new entries into the market. Brand recognition has started at both auto shows and luxury goods expos as international automakers wheel in sports cars with flashy paint jobs. Sports cars seemed to be the biggest attraction at Shanghai Top Marques 2006, a four-day luxury lifestyle expo held at the Shanghai International Convention Center last week. Models from sports car makers including Wiesmann GMbH & Co, Spyker, Koenigsegg, Lamborghini and Hulme Supercars Ltd all fought for the attention of visitors. A rare 9.99 million yuan (1.24 million U.S. dollars) Koenigsegg CCR - the fastest car in the world - and a limited edition Porsche Carrera GT worth seven million yuan turned a few heads. But showcasing the models was not the only goal. Most of the sports car makers were also working to build a strong sales network. Germany-based Weismann debuted in China with its MF3 roadster, which has a top speed of 270 kilometers per hour. "We see a brilliant future for the sports car in China in the long term," said Olaf Sewald, a marketing official at Weismann. "Impressive economic growth and the rise of a young generation will offer us great opportunities." Roaring Sales The company plans to open its first showroom next month in Beijing. Early next year it will open another showroom in Shanghai, Sewald said. He also expects sales in China to reach 20 units per year within three to four years, compared with its total annual production of 150 units. An exhibited model with a price tag of about three million yuan was sold to a buyer from northern China during the expo. The luxury car market generates more than 2 billion dollars in sales last year. It is expected to grow 20 percent annually until 2008 and then 10 percent per year until 2015, when sales are expected to exceed 11.5 billion dollars, according to Ernst & Young. Luxury sports cars are among the most popular models, especially among young men, due to an outstanding ability to attract pretty girls. Based on the latest rich list in China, more people can afford such cars. More than 500 people had assets totaling more than 800 million yuan, according to the list. Last year, people spent more than 250 million yuan at the first Top Marques Shanghai. In light of the increasing demand for luxury sedans such as Bentleys, Rolls-Royces and Lincolns, no car maker can afford to turn a blind eye to the Chinese market. Spyker is another sports car maker eager to expand on the mainland. Two years ago, the Dutch carmaker established Spyker of China Ltd - its only subsidiary outside Holland except for the United States. Spyker debuted its C8 Spyder and C8 Laviolette at Marques. Final discussions are taking place for its first showroom in Shanghai. The company, which sells cars priced between five million yuan and 10 million yuan, has one outlet in Beijing. It also has one dealer in Beijing, Shanghai, Guangzhou and Dalian. Hulme Supercars Ltd also looked for a partner at the event. The influx of new players will collide with Porsche and Ferrari for market share. But they do have the crucial head start and cars more suitable for daily use. Booming sales have also prompted Porsche and Ferrari to launch more aggressive marketing plans to maintain leading positions. The Chinese Grand Prix in Shanghai not only helps raise awareness of race cars and their drivers, but also cements the reputation of companies like Ferrari. This year, Ferrari launched a Chinese version of its Website to provide easier access to information about the company and its products. Meanwhile, Porsche organized its first ever Porsche Sports Driving School event in Beijing and Shanghai this year. It helped Porsche owners learn and experience the fundamentals of driving its cars. Better-than-expected sales of the Italian made cars increased confidence in the market. Porsche aims to sell 1,350 units this year, 500 more than in 2005, according to Tommy Zhao, general manager of Porsche China. Zhao said sales for the first nine months have been strong and a double digital increase for the year is expected. "Being here offers our clients a more direct impression of our cars and passes on our brand value," Zhao said at the Marques. The Porsche product portfolio includes Boxster, Cayman, 911 and Cayenne. Porsche China & Jebsen & Co (China) Motors Ltd commenced operations in 2001. They have 14 Porsche Centers across the country.
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