Spyker to Enter the Chinese Car Market

Spyker Cars announced that it plans to enter the the booming Chinese luxury auto market. The Dutch sportscar maker has taken the first steps to make an entrance into the world’s largest car market by signing an agreement with China Automobile Trading Company, one of the country’s largest auto importers. Spyker is now awaiting government approval in order to begin its joint venture.

A report by Xinhua newspaper, from Beijing, says Spyker recently signed an agreement with a local Chinese auto importer in order to establish a joint venture that will allow Spyker to sell its luxury automobiles into the growing Chinese auto market.

China recently passed the U.S. as the world’s largest auto market, and now Spyker joins other brands in trying to find an entry in the massive – and still booming – Chinese auto market. Spyker’s CEO, Victor Muller, expressed his optimism regarding the growth of the Chinese auto market, and specifically with the luxury segment.

If the agreement between Spyker and China Automobile Trading Company is approved by the Chinese government, the joint venture will allow Spyker to sale and service in China its supercars, luxury sport utilities and luxury commercial vehicles.

The Netherlands-based auto manufacturer is one of the world-class luxury car makers and has just taken over General Motors Co.'s Swedish Saab unit in February. China has replaced the United States as the world's largest auto market as auto sales hit 13.64 million units last year, with the world's auto giants all busy seeking a bigger slice of this pie.