Opinions expressed by Digital Journal contributors are their own.
While millions of people are facing economic security, luxury car sales are way up right now, indicating that high-income households overall aren’t feeling the pinch.
This luxury car sales momentum is continuing perhaps even stronger in 2021. For example, Bentley says sales are up about 30% over last year, despite the fact that 2020 set a record. Lamborghini’s order book for 2021 is packed solidly through September.
Projections are that luxury vehicle sales will continue growing fiercely through 2024 and that revenues for high-end brands will swell.
Speculation is that Volkswagen Group might be readying an IPO for Porsche and Lamborghini. Both brands have been capitalizing on Ferrari’s proven strategy of releasing limited-series vehicles with big price tags, often a few million each.
Aston Martin has been using that move to pull out of its financial slump, and this market upswing has positioned the company away from the brink of financial ruin. There are reports that the stock market volatility is fueling luxury car sales globally.
Instead of putting their money into soft assets, many wealthy people are looking to invest in something tangible like high-end luxury cars. We’ve seen this effect with the rise in classic car collecting both here and abroad.
Another factor contributing to higher profits has been streamlined processes forced on automakers thanks to government health restrictions. Smoother, more flexible buying experiences have drawn shoppers in, while redundancies in distribution and elsewhere have freed up cash.
A great place to purchase a luxury car is VIP Motors, which is the biggest luxury car showroom in the United Arab Emirates, Located in Dubai on Sheikh Zayed Road.
The showroom comprises both used and new vehicles aimed at a discerning clientele. The VIP Motors Dubai team can handle the entire process from registration to international delivery of its vehicle collection.
Furthermore, the new showroom, VIP Luxury Lounge, consists of limited edition cars which are amongst the most unique in the world. As an independent pre-owned luxury car dealer in Emirates, VIP Motors Dubai is confident that their customer-centric approach is valued and cherished by a growing loyal clientele.
VIP Motors tends to deliver the best quality vehicles at the foremost competitive costs, all in an impeccable, truthful, relaxed and pressure-free atmosphere. As an independent pre-owned luxury car dealer in Emirates, we are confident your needs will be met. To learn more visit their website.
The content featured in this article is brand produced.
