This is the correct time to sell very luxurious expensive cars, as sales of super cars have increased rapidly in the 2020 pandemic era
“I’ve been in this business for 40 years and I’ve never seen (luxury car sales) like this,” supposed Manhattan Motors president Brian Miller.
Manhattan Motors dealerships are dealerships that sell high-end cars such as Bentley, Lamborghini, and Bugatti, among other ultra-luxury brands. According to him, this is in contrast to overall car sales which have decreased until factory closings due to the pandemic.
In the United States, general auto sales fell 10% last year compared to 2019. Although auto sales recovered strongly in the fourth quarter, this is the equivalent of the fourth quarter of 2019 recorded sales. So said JD Power vice president of data analyst Tyson Jominy. However, the decline in car sales did not appear to be true for cars with a price of more than US $ 80,000 or the equivalent of Rp 1.16 billion (exchange rate of Rp. 14,500 / US $), almost double in the fourth quarter compared to the previous year.
Meanwhile, for cars that cost more than $ 100,000 or Rp 1.45 billion, sales were up 63% during the quarter, Jominy said. “There’s a pretty fantastic wealth effect that’s going on,” added Jominy.
According to him, the fast growing stock market has played a big role. Because the rich cannot afford to spend money on travel, many have turned to luxury goods such as expensive cars.
Customers often order cars of this type to the right specifications and wait months to build them. But he often keeps some of them up for sale to those who want to ride in a new Rolls-Royce or Lamborghini.
One of the more remarkable things about the increase in sales is that it is mostly young buyers who are driving the wave. “Austin’s rich Millennial tech employees are now the archetype,” concluded Miller.