May 30, 2023

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Luxury car market “escapes” 2021 epidemic

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Luxury car makers such as Rolls-Royce, Bentley and Bugatti reached record sales in 2021, with all-wheel drive companies topping the sales list from the car market, which was crippled by the health crisis.

Rolls-Royce (BMW Group) sold 5,586 cars, surpassing the unprecedented number recorded in 2019. Wealthy customers flocked to buy the new “Ghost” and Cullinan SUV, which starts at 300,000 euros (in France).

Bentley and Lamborghini (Volkswagen Group) made record sales worldwide with 14,659 and 8,405 cars, respectively, mainly thanks to the Pentecost and Urus four-wheel drive, which sold for around ,000 200,000.

In terms of sheer luxury, Bugatti saw “the best year ever in the company’s history” as 150 cars were ordered at a base price of approximately three million euros.

“The same thing happens everywhere: after a crisis, the rich get richer and the poor get poorer,” said Adolfo de Stephanie Cosentino, president of the Italian Car Dealers Association: “Luxury and excellence are far better than the general.

In an interview with AFP in May 2021, Rolls-Royce President Torsten Mர்ller-Otvos said: “The plague has made them realize that they may die tomorrow, and so they should enjoy life now.”

The real challenge

In parallel with the health crisis, the global automotive industry was hit by a shortage of spare parts, especially electronic chips, which stalled production despite the high demand for purchases, and the crisis led to a halt to production of 9.5 to 11 million cars. Around the world in 2021, according to the company, consultant «PwC.

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In particular, BMW sold a record 2.2 million cars, particularly in China and the United States, with its rival Mercedes-Benz losing 5% of its global sales. Chips, but sales of its game variants “AM” G “and” Maybach “soared.

Jose Baghdad, partner and head of the automotive industry at PwC Consulting in France and McRae, said, “Only the most sought after cars are produced and premium manufacturers are willing to buy components at higher prices.”

Luxury is not limited to cars, the Italian motorcycle manufacturer Ducati (up to 15,000 euros) broke its record sales in 2021, with about 60,000 parts worldwide.

“There is a factor in the macroeconomic front, a section of the population has become very wealthy in recent years, and they have the ability to buy the most luxurious and luxurious cars,” the expert stressed.

As for the limited market for ultra-luxury cars, “these cars have not lost value in recent years, but rather gained value.”

The four-wheel drive cars of these brands all over the world benefit from the great popularity of this model and the low price in the designs available for them. Ferrari, which will release its results in early February, is set to release the first SUV of its design this year.

Electric cars

According to Baghdad, electric cars have entered the luxury industry, which is “a new whip with a real challenge”.

“Engines are at the center of the interests of these brands, with a specific power and sound, but when switching to electric, it can be very difficult to distinguish them,” he said.

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Porsche, which has sold more than 300,000 cars, mainly in China and the United States, has surpassed its legendary 911 number of electric taekwondo, doubling sales in one year.