(Photo : UK-based supercar maker McLaren Auto)

UK-based supercar maker McLaren is opening its first Chinese dealership in Shanghai in order to sell its high-performance cars in China and cash in on a growing Chinese taste for ultra-luxury goods, the Wall Street Journal reported.

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McLaren Chief Executive Officer Mike Flewitt said the company, which is a popular brand on the Formula One motor-racing circuit, will add three more dealership within the month. The dealerships will be located in Beijing, Guangzhou, and Chengdu.

Two more dealerships will be opened early next year as the company plans further expansion in China, where Chinese demands for luxury goods, even those that are ultra-high-end, continues to grow. Each year, China produces 30,000 millionaires.

Targeting China’s Super-Rich

McLaren is not targeting China's rich but the country's superrich, or those who have personal wealth of more $16 million. McLaren will bring its reputation as a Formula One champion to lure the superrich who are looking for cars that will give them an ultimate status symbol.

According to sources, McLaren's 12C, considered as a main road car, will cost more than $500,000 in China while its P1 models, which are top-of-the-range, will be sold for $1.35 million. McLaren has been selling to buyers in Hong Kong, Australia, and Malaysia and is looking at getting into other markets such as Turkey, Russia, and India.

China’s Ultra-Luxury Car Market Is 5,000 Cars Annually

The supercar maker will go head to head with Ferarri, Lamborghini, Rolls-Royce and other ultra-luxurious car brands in China for a market that is only 5,000 cars annually, said automotive consultant AT Kearney. The market, however, is expected to grow this year even as the Chinese government continues to impose rules against luxury spending of senior government officials.

Another foreign car maker, Germany’s Daimler AG, announced that it will open 75 new dealerships in China this year for its Mercedes-Benz brand and increase production by around 50 per cent of what it now makes in the Country.