Recession, What Recession? Luxury Car Sales Boom

car-keysThe market of super-luxury cars is expanding and there is a huge market for new cars in the United States. The sale of super-luxury cars in the United States has risen to almost 6% in the previous year and it is expected to be another strong year.

The growth of some of the biggest and most expensive auto brands in the world are compelling and state clearly the rise in demand of super-luxury cars. Bentley Motors saw a 9% rise in the sale of super-luxury cars with over 11,000 units sold, while Rolls Royce posted a 12% rise in sales, which was it 5th consecutive year of record sales. Lamborghini also posted a 19% increase in sales and Maserati had a whopping 136% increase in sales due to the popular new Ghibli sedan.

The numbers are impressive and they suggest that super-luxury cars are in high demand and it is going to get even better for the industry in the next 5 years. The super-luxury car market is set to grow by 40% over the next 5 years as wealthy customers will step up their pursuit of acquiring high-end flashy rides. It is a huge deal for manufacturers of exotic cars, and while the sales of super-luxury cars are nowhere near in comparison to Ford that sells more cars in a year, the profits generated by the sale of super-luxury cars are monumental.

The surge in the sales of super-luxury cars are instrumental for their manufacturers as can be seen by the combined pre-tax profits of Maserati and Ferrari, of around $750 million for the year, which was around 20% of Fiat Chrysler Automobile’s pre-tax income of around $3.6 billion. The Volkswagen Group, which owns Lamborghini and Bentley as well as the Porsche and Audi brands, has generated nearly 80% of its profits from the sales of super-luxury cars and the starting price of most of the cars that were sold was a whopping $500,000.

There are more super-luxury cars that are all set to be unveiled at the Geneva auto show in Switzerland, and there is expected to be a whole host of new super-luxury cars that are going to be launched. Aston Martin is dominating the British supercar market while Rolls Royce, Lamborghini and Bentley are dominating the US and European supercar markets. Technology is improving every single year and with that the costs of super-luxury car manufacturers are dropping as well. This means that they are able to produce better and more powerful cars at lower costs and thus, the profit margin of the manufacturers is increasing as well.

The price of super-luxury cars may not be in the range of the majority of people, but that has not had a significant impact on the sale of super-luxury vehicles. There is still incredible demand for super-luxury cars and in the coming years, the market is expected to continue growing at an incredible pace.

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