Tales from a niche market:
Bloomberg interviewed Stefan Winkelman, CEO of luxury automaker Lamborghini. The financial crisis has "no mercy for the luxury market" says Winkelman, reporting that sales in 2009 will not be comparable to the record-high 2430 Lamborghinis sold in 2008. As one might expect for a sporty vehicle that retails for around $200,000, demand all over the world is suffering.
Except in China.
Winkelman said that in 2008, the Chinese bought 72 Lamborghinis and this year he expects "around that much." China is now one of Lamborghini's top ten markets, and in the "medium term," will rise into the top three.
And thus we witness the final death of dialectical materialism, choking in the exhaust of a high-end Italian sports car.
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