Luxury cars are best selling in the US



Cars with a selling price of more than $80,000 doubled sales in the fourth quarter of 2020, while a car over $100,000 increased 63% over the same period.

While the industry's car sales suffered from factory shutdowns and other disruptions due to pandemic, sales of super-expensive cars, such as Ferrari, Lamborghini, and Bentley, increased dramatically in 2020.  

In the US, car sales are down 10% in 2020 compared to 2019. Even when purchasing power recovers strongly in the last quarter of the year, the growth will be equivalent to the same period in 2019, according to Tyson Jominy, J.D. Power's vice president of data analysis.  

Luxury cars are best selling in the USBespoke car branch BMW has a busy 2020. / ph: BMW 

 But sales of cars over $80,000 nearly doubled in the fourth quarter of 2020.  And for cars that cost more than $100,000, the increase is 63%, according to Jominy.

 The stock market's growth also played a big role.  And when super rich people can't spend money on expensive vacation trips, they turn to high-end products, like luxury cars.

 When buying a luxury car, super rich often order according to their own requirements and accept monthly wait for the manufacturer.  However, dealers like Miller often keep some models available for those who want to get a Rolls-Royce or Lamborghini on the street on the day of money payment.

 But one of the most remarkable things about the sales boom was the big wave of young customers - Technology staffs - The rich Millennials (Gen Y, born 1981-1996).

 Bentley - the 101-year-old super luxury brand - has its best year in 2020 despite the plague that forced it to close its factory in Crewe, UK, for seven weeks.  And even after the factory reopened, productivity was half what it should have been for the next nine weeks, according to Bentley chief executive Adrian Hallmark.

 Bentley sold 11,206 cars in 2020 - 100 more cars than 2019 - a year that also hit sales records.

China is a particularly important market for Bentley, with sales growing around 50%, Hallmark said.  The new generation Flying Spur is a huge hit.  The super luxury sedan has been absent from the market for a while and is back at the end of 2019.

Lamborghini also had the highest profit year in 2020 and the second best sales in history.  Only 2019 can surpass the sales of 2020. For the whole year, the company sold 7,430 cars, a decrease of 9.5% compared to 2019. But the last quarter of 2020 was the best quarter of the supercar maker and the order list.  The first 9 months of 2021 were closed, CEO Stephan Winkelmann said.

 Meanwhile, Ferrari sales are down about 10% in 2020, and the factory has to be closed for seven weeks.  But also in the fourth quarter, the company hit sales and profit records.  Orders were also at a record level.

 However, not all luxury automakers have a good year 2020.  As Rolls-Royce reduced sales by more than 26% from the previous year.  2019 is also the first full sales year of the Cullinan SUV - the current flagship car.  And in 2020, the company stops producing Ghost for most of the time to prepare for the new generation.

 But according to BMW - the parent company of Rolls-Royce - the list of orders for Ghost is also full for most of 2021 and the Bespoke car branch has a busy 2020.

Luxury cars are best selling in the US

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