Chinese Luxury: First Production Hongqi L5 Sold for $803K

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Company hopes this car will make local leaders buy domestic again.

Shown at this week's Beijing Motor Show 2014, the Hongqi L-Series was designed to become the new status symbol for China's political and business elite. This group has grown accustomed to being chauffeured around in foreign brands, but parent company, FAW Group, hopes this limousine will be enough to bring them back home. Apparently, it worked for one local businessman, who agreed to shell out "at least" $803,000 (five million yuan) to take possession of the show car.

The 7,000 pound car is powered by an all-aluminum 6.0-liter V12, producing 402 horsepower and 405 lb-ft of torque. It features intelligent 4-wheel drive and a hydro-pneumatic suspension, in addition to a host of luxuries in the hand-crafted leather and wood interior. The patriotic imputes for buying the car is also displayed in the brand's name, as Hongqi means "red flag".

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China FAW Group

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