4 Explanations for Why the Rich Are Buying Supercars Like Cupcakes
Many believe that automakers rely on lower cost, high volume vehicles to pay the bills, and that the cars aimed at the mass market are the ticket to success. But as manufacturers of high-performance super cars are finding out, business is booming — in a big way. In fact, the past three years have seen sales for six-figure supercars soar, and companies are selling them as fast as they can make them, a report from Bloomberg BusinessWeek says.
“The market for six-figure sports cars crashed in 2009, which is hardly surprising,” Bloomberg‘s Kyle Stock wrote. “More notable, however, is the speed with which it got back on track after a global economic crash.” Since 2010, the sales pace for supercars has surpassed that for total vehicle sales, often by a comfortably large margin.
Lamborghini has so far built 700 Huracan cars, which is replacing the popular Gallardo. According to the New York Times, each and every one built has been claimed. It’s a similar story with Maserati, Bugatti, Porsche, and McLaren. It’s a benefit for the parent companies too, as supercars offer a huge margin when compared to more pedestrian vehicles. Fiat made a 12.3 percent profit margin on its Ferraris and Maseratis, while its mass market cars command just 3.3 percent.
Here are four factors that might help explain why sales for these high-end exotics have been doing so well.