On Monday while I was in my car heading home from meeting a friend for coffee, I passed three Ferrari’s in a period of a five minute drive (unfortunately I was not in one of them!). In many other countries that may be a rarity, but in Singapore it is a an everyday occurrence of being parked at traffic lights in between an Austin Martin and a Rolls Royce. And it isn’t because cars are a “bargain” here, in fact, it is one of the most expensive places in the world to own one.
So it got me thinking where is the best place to own a super-luxury car and who buys them?
Ferrari was named the most powerful brand in the world this year, which is judged on qualitative measures such as brand affection and loyalty (not to be confused with brand value – which Apple wins due to revenue size). So clearly while gold prices come crashing down, sales of the car that bears a prancing horse logo, are on the rise.
And most of the big ticket items are heading to China… of the eight Bentley Mulsanne Grand Tourers produced this year, six are going to China. Rolls Royce’s business is on the up there too, with 30 per cent of its business coming from China and an increase of 23 per cent in sales.
Not to be left out, Lamborghini had a 150 per cent surge in year-on-year in sales in 2010, and a 70 per cent rise in growth in 2011 in China.
While the USA still wins the prize for the most super luxury cars bought each year, China is expected to overtake them in the next year or so (a 1,550 percent growth between 2001 to 2012 sets a good base)
And if you just want a bargain and are looking to “down grade” to Porsche’s iconic 911 sports car the best place to buy it is the USA where you can pick it up for $77,200. In Australia it’s $223,000; Japan $134,000; and Britain $107,000.