McLaren Expects Sales in Asia to Double This Year image

McLaren Automotive said that auto sales in the Asian market will more than double in 2013 thanks to increased demand in China.

Mirko Bordiga, Asia Pacific regional director of McLaren said that although overall sales will see little change this year, Asia sales will rise to 25% from 10% in 2012. McLaren’s 2013 sales target it to reach 1,400 vehicles sold globally. Two years ago McLaren began selling road vehicles and now it palsn to open its 4th dealership in China and four more in the first quarter of 2014. Analysts predict that luxury auto sales in China will surpass those in the US by 2016.

“This year, we will finally see sales from China,” said Bordiga, who was in Tokyo to introduce the P1 in Japan. “We are waiting for the official documents to start the company.”

The Chinese government has started a new campaign to cut extravagant spending, and it plans to impose a 20% tax on ultra-luxury vehicles which have the price higher than 1.7 million yuan ($278,000). Bordiga said that additional taxes on luxury cars will affect McLaren’ s sales in China in the short term.

“We will have to wait and see if and how they will apply the regulation, and then decide what to do,” said Bordiga. “It won’t have a big impact in the long term.”

Source: Bloomberg