Who says money solves all your problems?
As we’ve covered before, the sale of new ultra-luxury vehicles, including exotic supercars is way up since governments around the world started telling people to stay home. While for some people more time at home has meant watching Netflix and eating potato chips, for the super rich it’s turned into a shopping spree for expensive cars as a way to fight boredom.
Watch a 20-year-old drive a billionaire's supercars here.
This phenomenon has been seen around the world, not just in North America. Trapped at home instead of jet setting around the globe to exotic locations, the super rich have decided to get their thrills behind the wheel of a Ferrari, Bugatti, Lamborghini, McLaren, etc.
For many affluent people, they’re just redirecting money which would’ve been spent on luxurious vacations. That might be a shock to many regular people who don’t come near to even blowing what new Nissan Versa costs to go on however many trips they take in a year. That kind of disparity no doubt means this news will irk quite a few people, particularly those who have been financially ravaged from losing their job or being furloughed thanks to the government-mandated shutdowns.
Most high-end automakers had a banner year in 2020 and are seeing great sales figures so far in 2021. In fact, Aston Martin is no longer unprofitable after years of the British brand being in the red. Bentley, also from the UK, has recovered from less-than-stellar sales in the recent past. About the only exclusive brand which hasn’t just blown things out of the water is Rolls-Royce. The old mainstay in ultra-luxury automobiles had just begun retooling its factory for the new Ghost when the pandemic struck, and that’s what it’s citing for the 26 percent drop in sales last year.
Some projections paint a rosy picture for ultra-luxury car sales all the way until 2025. The further out forecasts go the more there’s a potential for inaccuracies, plus unforeseen circumstances can always upend markets, but after not even COVID-19 derailed the sale of vehicles worth hundreds of thousands, there’s cause for such robust predictions. In fact, one Bentley executive was quoted in a recent report stating, “It would take more than a pandemic to knock us off track again.”
Source: The Manila Times
