China after capturing the auctions market for artefacts and stamps is now eying the Rolls-Royce market too! The most populous country in the world is all set to whiz past the US to be crowned as the biggest Rolls-Royce market within a blink on the calendar. The luxury car giants have set a target of selling 800 cars in China in the next year. Not difficult considering that in the 10 months this year they managed to sell as many as 500 cars compared to the 100 in 2009.
The fact becomes surprising when they are matched with monetary figures. For instance a Rolls-Royce Phantom starts at $990,000 in China while its priced $380,000 in the US, thanks to a 25 percent import duty, 17 percent VAT and a consumption tax of 40 percent for engines bigger than 4.0-liters. Moreover you need to wait a good six months for delivery too.