Bentley, Ferrari, Rolls-Royce – and almost every other exotic and expensive automaker have seen their sales rise to new records over the past year and a half.
Back in 2008, the world saw its worst economic crisis in the new millennium, with the auto industry hit – just like any other industry – and sent back to “dark ages”. While mainstream automakers are still fighting to recover from the slumps and with the global landscape forever changed, there is one segment that already prevailed.
The rich seem to have gotten even richer – and they now tend to buy the most expensive models from the most expensive brands – the record sales pace even made Ferrari put a cap on its production, to maintain exclusivity.
“The exclusivity of Ferrari is fundamental for the value of our products,” said chairman Luca di Montezemolo. “We don’t sell a normal product. We sell a dream.”
“Clearly, the luxury end of the (car) market is more robust” than other segments, adds another car executive.
So far this year there are two clear examples of the fact – both coming from Britain (although their parent companies are German). Bentley and Rolls-Royce reported separately their best results to date for the first six months of the year. The former managed to increase sales for the January to June period by 19%, while the latter posted an even better result, jumping 33%.