Ferrari sees China to be top 3 market

Shanghai, November 4 ( Italian carmaker Fiat said Tuesday that China is to be one of the top three markets of its luxury cars in 5 years, Reuters reported.

Ferrari aimed to sell about 600 units per year in China over the same time frame, Marco Mattiacci, the company's Asia-Pacific chief executive, told Reuters in an interview.

Since Ferrari rolled to the Chinese market in 2004, the total sales has recorded 650 vehicles, boosting China into the top 10 of global Ferrai lineup, Mattiacci told Reuters at a company event to unveil the 599 GTB Fiorano model.

Porsche, Ferrari’s German rival, has already showed its awareness of the China market potential by releasing its much-awaited Panamera grand tourer on the eve of the Shanghai Auto Show in April this year.

"Today, China is the No.1 car market in the world, but great improvement is needed in terms of quality, design and customer service. We have the best of them." Mattiacci said.

The demand brings the top brands into China, where the chemistry between China’s buyers and the top brands is booming.