• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Forget Ferrari, The $803,300 Red Flag L5 Is The New Must-Have Car In China

Tyler Durden's picture




 

For the wealthy Chinese with 5 million Yuan (around $800,000) burning a hole in their pocket, there is a new must-have 'toy'. Instead of the latest Ferrari or Lambo, it is none other than the provocatively named "Red Flag L5" that is popping eyeballs and leaving the wealthy Chinese breathless...

As Bloomberg reports,

Forget Ferraris. Someone paid at least 5 million yuan ($803,300) to buy a Chinese car.

 

China FAW Group Corp. began taking orders for the tailor-made Red Flag L5, the nation’s most expensive vehicle, with the first one sold to a customer in Nanjing, the automaker said in a statement today at the Beijing auto show. Delivery will take three months, said the buyer, Wang Zhonghua, who runs a company that operates a chain of furniture malls in China.

 

FAW produces the Red Flag luxury vehicles used by government officials and also makes Volkswagen AG (VOW)’s Audi cars in China as its local manufacturing partner. Formerly called First Automotive Works, which was started by the Communist Party as a linchpin of China’s industrial policy, the company is seeking to capitalize on a government campaign to buy local brands.

 

For the price of a Red Flag L5, one can buy a Ferrari FF in China, according to Cheshi.com, an auto pricing website.

Are the Chinese shifting from decadent flashiness to understated luxury... in an effort to hide the graft? Or does this odd looking vehicle lay golden eggs, come with a happy ending, and exhaust unicorn tears?

 

Goregous? Inside...

 

and out?

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Mon, 04/21/2014 - 12:33 | 4679779 Mr Pink
Mr Pink's picture

More importantly.. Yahoo news  top weekend stories : Kim Kardashian wears pink jumpsuit

Where do I get one of those one way tickets to Mars?

Mon, 04/21/2014 - 12:35 | 4679791 IridiumRebel
IridiumRebel's picture

Mr. Pink Jumpsuit?

Mon, 04/21/2014 - 12:37 | 4679800 THX 1178
THX 1178's picture

BOOOOOOO!!!!!

Mon, 04/21/2014 - 12:41 | 4679821 i-dog
i-dog's picture

Good grief! Designed in the 1950s; built in the 21st century.

Mon, 04/21/2014 - 12:43 | 4679831 ACP
ACP's picture

Made popular by the Green Hornet, looks like. And the old series at that.

Mon, 04/21/2014 - 12:49 | 4679849 Headbanger
Headbanger's picture

Must have been designed in North Korea

All it needs are BIG FINS!

And fender skirts!

And why does that front end remind me of Bender from Futurama (Brought to You In Living Color!)??

 

Mon, 04/21/2014 - 12:52 | 4679872 SilverIsKing
SilverIsKing's picture

I had always wondered what ever happened to Eisenhower's car.

Mon, 04/21/2014 - 12:56 | 4679886 knukles
knukles's picture

Pelosimobile

Mon, 04/21/2014 - 12:58 | 4679905 Bindar Dundat
Bindar Dundat's picture

UGGGG--LLYYYY!

Mon, 04/21/2014 - 13:02 | 4679920 Say What Again
Say What Again's picture

I guess there is no law against talking on the cell phone while driving in China, because as one can clearly see in the last photo, the driver is calling someone (his loan broker?) while driving this expensive automobile.

Mon, 04/21/2014 - 13:27 | 4680022 pods
pods's picture

You guys are missing the point. It is not how the car looks.
It will however increase your driving skills by a factor of 8.

pods 

Mon, 04/21/2014 - 13:31 | 4680042 Boris Alatovkrap
Boris Alatovkrap's picture

Yu wan ka? Yu a lichi lichi mo ni? Ai se lyu led fu lag!

Mon, 04/21/2014 - 14:29 | 4680243 James_Cole
James_Cole's picture

Lol no expense spared on that interior. Save a bunch of money and pick up one of these instead:

http://www.caranddriver.com/photo-gallery/2014-mercedes-benz-s63-amg-pho...

Mon, 04/21/2014 - 14:37 | 4680281 Stackers
Stackers's picture

It's like a Zil and a Bently had a love child

Mon, 04/21/2014 - 14:47 | 4680333 Harlequin001
Harlequin001's picture

The front is definately Hillman Minx, the rest of it straight Bently copy.

Looks shite, sorry, but it does...

Mon, 04/21/2014 - 14:53 | 4680364 eatthebanksters
eatthebanksters's picture

These used to come free in a box of rice candy...

Mon, 04/21/2014 - 15:30 | 4680487 Oh regional Indian
Mon, 04/21/2014 - 18:19 | 4680987 gmrpeabody
gmrpeabody's picture

The clock is sweet...

Mon, 04/21/2014 - 19:31 | 4681138 mjcOH1
mjcOH1's picture

"Good grief! Designed in the 1950s; built in the 21st century."

 

It appears to be a 55 Studebaker, with the finest of plastic interiors.

Mon, 04/21/2014 - 21:11 | 4681351 long-shorty
long-shorty's picture

the problem with there being so many blogs and content aggregators these days is that you keep seeing April Fools joke press releases turned into news stories throughout the whole month of April (e.g. Nike's cork shoes).

then something like this comes along and you can't tell if it's real or just a very late April Fools joke.

Mon, 04/21/2014 - 21:17 | 4681363 Four chan
Four chan's picture

they should keep their day jobs,

being slaves.

Mon, 04/21/2014 - 15:21 | 4680455 Pairadimes
Pairadimes's picture

Peak greater fool?

Mon, 04/21/2014 - 21:58 | 4681449 Hooter Shaker
Hooter Shaker's picture

Ugly as shit.  Looks like an old Checker POS taxi cab.  They used to call them Sputniks...

Mon, 04/21/2014 - 18:21 | 4680992 Sirius Wonderblast
Sirius Wonderblast's picture

Kudos for remembering the Hillman! There was even a company that specialised in tuning those sorry heaps, can't recall their name for the llfe of me. Of course, related to Hillman was Humber (at least once all part of Rootes) - remember the Sceptre and Super Snipe? Such car-isma!

Mon, 04/21/2014 - 15:30 | 4680483 Mountainview
Mountainview's picture

But it must weight 5 tons...nothing for Greens and global warming fighters...even if 5 cows issue more greenhouse gases... 

Mon, 04/21/2014 - 21:18 | 4681366 Four chan
Four chan's picture

chinas secret goal is to destroy the earth before india.

Mon, 04/21/2014 - 14:59 | 4680381 Zerozen
Zerozen's picture

OK own up, who the hell downvoted this?

Mon, 04/21/2014 - 14:39 | 4680289 post turtle saver
post turtle saver's picture

lol @ idiots with cell phones in their ear when their cars have hands-free support... proof once again that people only do that to look "important" in their cars while they're driving

here's a hint to those idiots that like to do that...

- if you were really important, you wouldn't be driving, someone would be driving for you

- even if someone were driving for you, your secretary would be in the car taking calls for you if you were truly important

fucking new money, no class at all

 

Mon, 04/21/2014 - 18:08 | 4680955 crazzziecanuck
crazzziecanuck's picture

He could be using his free hand to cover his shameful face being caught on camera driving this thing.

Mon, 04/21/2014 - 21:07 | 4681340 NidStyles
NidStyles's picture

Uhh, not everyone drives a new car...

Mon, 04/21/2014 - 16:48 | 4680708 Professor Fate
Professor Fate's picture

Early 90's Chrysler product with just a hint of 50's Nash Metropolitan and certainly the reliability of a Yugo.  Or...that POS is the same price as an original 427 AC Cobra.  Let's run one through the Mecom auction and see just what she brings.  LOL

Fate the Magnificent
"Push the Button, Max

Mon, 04/21/2014 - 15:46 | 4680530 worbsid
worbsid's picture

You will know what's in it after you buy it.  For $800K, one should hope it comes with a "Fully Equipted" back seat.

Mon, 04/21/2014 - 17:11 | 4680783 PT
PT's picture

But you don't understand.  These ones will be worth more on the second hand market.  They also come with the "rehypothecated collateral" option package.  It's an investment I tells ya!

Mon, 04/21/2014 - 17:13 | 4680790 PT
PT's picture

Didn't the last Ukrainian Prez have one of these in his collection?

Mon, 04/21/2014 - 17:24 | 4680824 Son of Loki
Son of Loki's picture

It's good to see Third World folks buying million dollar cars. Before long, they'll be buying $3-$5 million dollar houses in Kalifornia!

 

...oh, wait....

Mon, 04/21/2014 - 12:52 | 4679873 idea_hamster
idea_hamster's picture

The luxury Lada.  Ugh.

Mon, 04/21/2014 - 12:55 | 4679882 Headbanger
Mon, 04/21/2014 - 13:28 | 4680029 Say What Again
Say What Again's picture

The Chinese need to learn how to market luxury cars...

http://www.coupay.com/topoften/wp-content/uploads/2012/12/Rolls-Royce-Ph...

Mon, 04/21/2014 - 13:47 | 4680116 Citxmech
Citxmech's picture

It looks like a Fiat 124.

Mon, 04/21/2014 - 14:36 | 4680247 25or6to4
25or6to4's picture

No way. Looks like a slight update on the 1960s Opal designs that were so forward thinking. Where do I put my money down?

Mon, 04/21/2014 - 15:24 | 4680465 IndyPat
IndyPat's picture

Thank God the Edsel has finally been redeemed!

Kinda did for the Edsel what Obama did for Carter.

It's all about contrast....

Mon, 04/21/2014 - 15:27 | 4680472 wallstreetapost...
wallstreetaposteriori's picture

It looks like a toyota.....with a Bugati pricetag...  I guess the Chinese are not that bright...

Mon, 04/21/2014 - 21:22 | 4681371 Four chan
Four chan's picture

the new rich have always been funny in their spending.

Mon, 04/21/2014 - 13:33 | 4680041 Bunga Bunga
Bunga Bunga's picture

This is how every GM car will look like in 30 years. Central planning can do more damage than you think.

Mon, 04/21/2014 - 15:26 | 4680471 IndyPat
IndyPat's picture

No. They will all look like those gay electric golf carts all the hipsters drive now.

Pried one out of the grill of my Wrangler Rubicon this morning with a toothpick. Gulped it down with one bite.

Mon, 04/21/2014 - 17:51 | 4680906 LeisureSmith
LeisureSmith's picture

For kommunist retro revival the Volga v12 is the king.

http://www.autoreview.ru/new_site/year2001/n08/volga/volga.htm

The Red Flag looks like a turd.. a very expensive turd.

Mon, 04/21/2014 - 12:55 | 4679875 knukles
knukles's picture

Trabant knockoff
The more thngs change the more.... 
... they are insane... 

Mon, 04/21/2014 - 12:59 | 4679911 lasvegaspersona
lasvegaspersona's picture

banger

YES!! It is Bender.....couldn't place the face at first though...

Mon, 04/21/2014 - 13:09 | 4679954 jon dough
jon dough's picture

kiss my shiny metal ass...

 

http://www.youtube.com/watch?v=3WqecnJ7hb0

Mon, 04/21/2014 - 16:53 | 4680723 Headbanger
Headbanger's picture

Thanks dudes!

Love that video!

Do NOT follow this link or you will be banned from the site!