• Apr 23, 2008


Click to view the Bugatti Veyron's unveiling in Beijing

If you were looking for the new epitome of capitalism's slow-but-steady takeover of communism in China, we've got it for you right here. Bugatti brought its million-euro hyper-car this year to the Auto China show in Beijing, drawing hoards of spectators in its appropriate bright red paint job. What's more is that within two hours of the car's debut, Bugatti had already sold one.

The customer will fly to Bugatti's Molsheim headquarters to pick out the color scheme and options (apparently no one told him he could do it online), and pay a whopping 25 million yuan (approximately $3.6 million, more than twice the sticker price) for the privilege of owning the first Veyron in China. Mao who?

Click on the images below and the press release after the jump for more on the Veyron's unveiling in Beijing.


[Source: Bugatti and Gasgoo]



PRESS RELEASE:

Bugatti launches Veyron in China

At a media conference on press day at the Beijing Motor Show Dr. Franz-Josef Paefgen, President of Bugatti Automobiles S.A.S. , officially declared Bugatti's entry into the Chines market. „We are delighted to be here", said Dr. Paefgen. „It is a historic moment for the legendary Bugatti brand: it is the first time that Bugatti presents a car in mainland China."

The Bugatti Veyron will be on of the highlights of the Beijing Motor Show. Bugatti's has selected Bentley China, a subsidary of the Dah Chong Hong Holdings Ltd., as its General Distributor in mainland China. The DCH Group takes up Bugatti's sales- and service responsibilities in Beijing, Shangai and Shenzhen.



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    • 1 Second Ago
  • 25 Comments
      • 6 Years Ago
      It must be fun to be stinking filthy rich...
        • 6 Years Ago
        maybe its yao ming...
      • 6 Years Ago
      I thought China was into the boycott of anything French...
      • 6 Years Ago
      Let's hope this guy won't trash it on a flower pot like that Murcielago
      • 6 Years Ago
      Maybe he's the head of the company that manufactures all of the lead paint.
      • 6 Years Ago
      brilliant move for Bugatti, they can now add more names on their waiting list.
      • 6 Years Ago
      China is about as Communist as America is Democratic. Subtext:not at all
        • 6 Years Ago
        OH YEAH, HE WENT THERE.

        :)
      • 6 Years Ago
      Coming soon Chinese knockoff of Veyron.
      • 6 Years Ago
      Some very interesting articles in National Geographic about China. I am not surprised that someone has the purchasing power to buy this car in China. Out of a billion people someone has to making money off all of the masses. Most of China's extremely wealthy are very similar to the rich people over here and all over the world. They are rich from real estate, construction, energy resources, and manufacturing. Coincidence? Don't be surprised that china has rich people that aren't part of the corrupted government. Well maybe they are, but thats like saying the elite people over here don't have any ties to the corrupt government. America isn't that much greater than the rest of the world for being rich. Its one of the best places for being poor.
      • 6 Years Ago
      Volkswagen Bug-atti.
      • 6 Years Ago
      For the first time, we are seeing communism, rather than out-right failing, simply morphing into socialism.

      They are gaining the illusion of private wealth, and certain capitalistic economic indicators.

      But I am thinking it is somewhat skin-deep. The Government is not relinquishing control, only shedding the appearance of out-right tyrrany, because it suits them.

      The people that have the money for this sort of stuff are not the normal entrepreneurial chinese people who have made good. Not like western countries, especially the US does have.

      These are people who are well connected to the government, have control by acceptance of the government, and work hand in hand.

      Totalitarian communism has never worked. It wasn't working in China, and with their economic opportunity to sell to the US under a trade deficit in their favor, and huge amounts of debt on our part, they have had the impetus, and necessity to adapt their situation to handle that wealth.

      So, they are moving from totalitarian communism (like Stalin, Mao, others) toward Fascistic Socialism (like Hitler, Mussolini, Chavez) who were quite popular before war broke out in europe) who let businesses make money for themselves, as long as they continue to make money for the state, as well.

      The illusion of private ownership is just that, an illusion. It appears as such, but the government is in control, none-the-less.

      And the people under that thumb, the workers, not the management/government officials, still suffer. The officials get rich and buy Bugattis, or whatever else, and continue to tell the people what is best for them, and what they will or will not do.

      And the people who disobey, disappear.

      So... Believe China is getting better, but I have a feeling it is just a difference of appearance, not of substantive political change.
        • 6 Years Ago
        Believe or deny what you want, but people in China today have many ways and opportunities to get rich, without having ties to the "Communist" Party.

        China is NOT what it used to be 20 years ago, or even 10 years ago, or even 5 years ago. Don't believe everything CNN and Jack Cafferty tells you.

        I'd be willing to bet that this buyer is just a super successful / lucky business person and is not tied to the government in any significant fashion.
        • 6 Years Ago
        Asia is having very dramatic changes right now. A very large young and rising middle class is emerging in the Asian countries such as Vietnam and China. And yes, they are accepting capitalism. In Vietnam you could own land again, and real estate over there is insane. My family recently purchase a plot of land there for 300k and sold it for 1.2 mil we sold it too early because a couple of months later it hit 2mil. I even see advertisements for investing in Asian countries in my copy of Forbes. Man as America slowly falls China/Vietnam is slowly picking up. Its a whole new world. One difference though, I don't think they will ever truly get rid of that extreme poverty level at the very end of the spectrum. Us American's still need cheap labor so lets hope it doesn't stays put. I can think of a couple of companies going out of business once China becomes too good to produce goods at the old price.
        • 6 Years Ago
        I agree. The Chinese government is definitely taking a backseat in terms of publicity compared to its past days, but not relinquishing any kind of grasp in terms of running the country. I even had to use google to find the name of the current leader of China.

        The sad truth is that the illusion of improvement is just as, if not more, important as real improvement. The politicians of the world seldom concern themselves with more than superficial appearance. That's exactly how China got the Olympics.
        • 6 Years Ago
        Sorry... figures were wrong.

        2 Million is 667% of 300k USD.

        But it is actually only a 567% 'increase over' 300k USD.
        • 6 Years Ago
        The land going up in value has little to do with US inflation. I was just stating that just as in example to show you the booming economy. It went up because all the international investors.
        • 6 Years Ago
        from 300k USD to 2 Million USD is a 667% increase. The US Dollar is tanking, but it is not tanking ANYWHERE near that fast. Even if the Viet currency isn't deflating, the currency exchange rate doesn't account for that, either. Even 1.2 Million to 2 Million in a couple of months is a 67% increase. In MONTHS, according to you.

        That doesn't normally happen. The purchasing power of the people doesn't increase that fast through "normal" economic growth.

        US Property transactions are paid in full to the seller, as well. It is the buyer who may or may not be in debt. The seller gets the agreed price, in full, in cash. That isn't the issue.

        The numbers are the numbers, it is not a matter of blindly defending anything.

        No doubt southeast Asia is seeing some very large economic growth.

        But Vietnam's economy probably isn't 10% of the economy of the state of California. California has an economy bigger than that of half the individual countries in the EU, regardless of square mileage or population density.

        But economics and politics, although usually close to each other, are not the same thing.

        On the topic of China, If the chinese worker's wages were going up at the 9-11% that their economy is growing (which is still less than 30% the size of the US GDP, BTW) then we would be seeing the prices of chinese made goods going up as well, MORE than the inflation in our own economy.

        If Chinese goods were getting that much more expensive, we would be seeing manufacturing of US-bound goods being gradually moved to other, cheaper countries.

        The economic facts are, that the chinese people are making some money, and are coming from poverty into middle-class. The communist government couldn't stop that if they truly tried to. They couldn't kill or imprison enough people to contain that.

        But the chinese people are not seeing the full effects of the chinese market growth, the business leaders, and government officials are gaining much more from that, much faster than anyone else, which also makes them more amenable to throw the people a little bit of a bone.

        But China, nor Vietnam, is NOT a free country, and they do not treat their people as free people. China's growth would not be possible without their people, yet the upper echelon is gaining from it, much more than the people bearing the load.

        I suppose that is the same as every civilization in history that goes through a modernizing phase, but authoritarian government doesn't benefit the people then, or any other time, and to white-wash China's humanitarian issues due to economics is not doing anyone any favors.

        I thought that was what liberalistic NPR listeners were all in tune with. Funny that it is a conservative that is saying that not all is well despite outward appearances, and that the people may not be getting their fair shake.

        A communist state doesn't just abandon that control when a few dollars come their way. Powerful people don't relinquish power so easily. As a citizen of the US, I admit that about my own government as well, although at least there is a mechanism that is supposed to work to remedy that at the behest of the people.

        As another poster here said... the rich exist pretty much everywhere, but the difference is that it is much better to be poor or even middle class in free countries than in oppressive ones. Say what you will about the US, but it is an object lesson in the fact that freedom serves the people best. But that is just an American "blindly defending his country", as you say.
        • 6 Years Ago
        @joe23521:

        Tell that to the tibetans, the taiwanese, and anyone who is found to be a practicing Christian in China.

        Freedom is not the ruling principle in China, regardless of wealth. What happens has state approval, or it doesn't happen.

        @Seoultrain,
        unfortunately, you are right, and political leaders let themselves be satiated by mere appearances, not on real world effects. I don't see that changing anytime soon, despite US candidates talking about it.

        @M3Driver,
        America may be in a bit of a pickle, but I am not sure that it is "falling". Even if it is, it has miles to fall before it becomes comparable to anything in the third world. And the third world has a lot of room to grow before it becomes an effective economic force, the likes of the United States, and other western countries.

        Rapid inflation of prices in Vietnam is not a good sign, any more than rising prices in the US. If values are skyrocketing that much, something is wrong, and will be corrected. (which is exactly the pickle the US is currently in. A market correction, which may get more rough before it gets better.) Vietnamese citizens are not the ones buying or benefiting from that market trend, nor are the Chinese people directly profiting from China's trade surplus and wealth.

        Businesses probably won't go out of business, because worker pay is not increasing in china to meet the economic growth. Cheap labor is what China is built on, and they aren't going to give that economic advantage up.

        And even if the market forces it, cheap labor will get outsourced from other countries, including the US, to other countries. Central Asia, and Africa, as the far east, middle east, and South America get more modernized and economically developed. China and other current sources of cheap labor will have to adapt to that, or try to hold on to it as long as they can.

        The only constant is change.
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