An evolving auto industry has also transformed that one percent of car sales – the hyper-luxury brands have opted to reinvent by introducing unexpected shapes for their models.
The best examples – Rolls-Royce last year unveiled a driver’s machine, the two-door Wraith, instead of a new saloon, while its long-time partner now turned rival announced in 2013 it would build a sport utility vehicle – the Bentayga – prompting the former British brethren to do the same last week. Ferrari unveiled a flagship supercar that also uses an electric motor, while Porshce topped that with two electric powerplants. And guess what – orders are rising, the profits are swelling and record sales are coming in. While the economies are still feeble in numerous parts of the world, the rich kept getting richer, also joined by a new class of millionaires – those evolving from startups to stars of their respective industry.
That has prompted the swift rise of demand for the six- and seven-figure vehicles. During the past five years global registrations of the seven biggest ultra-premium brands have jumped no less than 154 percent – which is a few times faster than the overall pace of overall global car deliveries. True, the bulk of those sales come from Maserati and Porsche, two automakers that usually sell vehicles for a little less than $100,000, but even if we take the two out of the equation, the remaining five surged 62 percent since 2009. Rolls-Royce has jumped its sales almost five times, Bentley surged 122 percent and Lamborghini managed a 50 percent jump since 2009.