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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Reader Comments (Page 1 of 2)
Allan @ Apr 23rd 2008 10:59AM
Let me speak for a moment as if I had enough $$ to care and my opinion mattered:
As much Win as the Veyron might be full of, I just don't find it to be an attractive car. I don't think I'd buy one.
But I'm sure this guy will be happy with his.
Chris @ Apr 23rd 2008 11:09AM
I just find it amusing that a communist country has people with money, I thought it was the ultimate expression of fairness that Marxist loved? (like a certain O candidate)
obviously its fairer for certain people, like those of the party
Shawn @ Apr 23rd 2008 11:26AM
The eventual failure of all Communist system is the surrender to the very capitalistic ideas they so despised, and the elite ruling class embraces the concept of profit and extravagance.
Let see how long before the ruling members become alarmed by the excess of the liberal bourgeoisie and begin andother cleansing.
aron @ Apr 23rd 2008 11:31AM
China has been anything but communist in the past decade or two. It's more like a capitalist oligarchy .. but I digress.
LeRobert @ Apr 23rd 2008 11:32AM
@ Chris
Well obviously you haven't been very in tune with world politics, or else you would have known that China is 'communist' in name alone. The market has long since been home to a more-capitalist-than-America style of capitalism. So this new Veyron owner is more that likely a successful entrepreneur, rather than a party official.
jsjs @ Apr 23rd 2008 3:05PM
The PRC nowadays is a totalitarian regime which has tight control of the media, uses/incites nationalism to justify its hold on power and to deflect any internal criticism and has close relations btwn govt., the military and business.
I seem to recall that we have a term for this - oh, yeah - Fascism.
tekdemon @ Apr 24th 2008 12:13AM
jsjs, just being authoritarian, even while promoting nationalism doesn't make a country fascist.
For one thing, fascism wouldn't allow the rather free economy of China. And while China may be nationalistic, it's not in an insane superiority over all others sort of way.
Lots of countries are nationalistic, and lots of places have somewhat authoritarian governments, but that doesn't make them all fascist.
Anyways, in time the Chinese government will loosen up. It's still a pretty new government, so you can't expect it to be able to loosen up as easily as a government that's been around for a long time. Mostly I suspect that too many government leaders still remember overthrowing the previous government ;)
Sean @ Apr 23rd 2008 11:11AM
brilliant move for Bugatti, they can now add more names on their waiting list.
Mobius_1 @ Apr 23rd 2008 11:16AM
Let's hope this guy won't trash it on a flower pot like that Murcielago
Andrew Tanasescu @ Apr 23rd 2008 11:17AM
Funny thing is bugatti still lost money on the sale...
rsfourever @ Apr 23rd 2008 11:52AM
lol! very true...
matt @ Apr 23rd 2008 11:18AM
pretty sure that's how much it costs to import the car in china, given the hilarious import tariff.
Franz @ Apr 23rd 2008 11:29AM
It must be fun to be stinking filthy rich...
Kingcyrus @ Apr 23rd 2008 12:31PM
maybe its yao ming...
mk @ Apr 23rd 2008 11:50AM
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.
joe23521 @ Apr 23rd 2008 12:31PM
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.
Seoultrain @ Apr 23rd 2008 12:34PM
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.
2004m3driver @ Apr 23rd 2008 12:37PM
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.
mk @ Apr 23rd 2008 1:05PM
@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.
2004m3driver @ Apr 23rd 2008 7:49PM
@MK
Maybe I am taking this the wrong way, but Vietnam is not in a state of hyper inflation at the moment. When I said I sold the land, it was in USD not the Viet currency. I am guessing you are American, because you are trying to defend your country so blindly. No Vietnam is not in the same pickle as the US. Because the land sold usually has to be paid in full. Its not the kind of housing crash like over here with scandalous loans and not enough money to back it up. Their real estate market is a whole different beast, base on actual demand. (Vietnam is smaller than California but has a 85mil pop. while Cali has a 35mil pop.) And no where did I state that the US will ever hit 3rd world levels. Not to mention you state that the citizens of China are not directly profiting from the surplus. How come their economy is booming then? How come they have a rising middle class. Ever listen to NPR or read any news articles on china lately other than Tibet? If not I am just agreeing with you. The only thing that is Constant is change and all the countries were talking about is changing for the better or worse.