Luxury car sales stronger than before GFC

Luxury car sales stronger than before GFC

Its not just the light commercial and SUV segment that is enjoying growth this year, as luxury brands are reporting strong sales.

According to the Motor Industry Association, luxury cars sales are now at a higher level than before the financial crisis.

Motor Industry Association chief executive David Crawford told The New Zealand Herald the improved sales within the luxury sector are a reliable indicator of economic confidence.

“Just before the global financial crisis hit [in 2007-08], sales of luxury brands – BMW, Audi, Mercedes – dived. They dived about six months before everybody realised they were in a financial crisis,” says Crawford.

“Sales began lifting again last year, with mainstream vehicles following suit in 2014, he says.

“The sorts of people that buy them are the professionals – they know how the market’s going.”

“As long as the New Zealand economy is strong and people are perceiving it to be strong, then I see the trend continuing.

Jaguar New Zealand brand manager Paul Ricketts told the Herald that most of the 30 Jaguar F-Type coupes allocated to our market have been spoken for, and the car has only just been launched onto the local market.

The F-Type coupe retails from $125,000 to $185,000 for the high-performance F-Type R.

BMW corporate communications manager Edward Finn also told the Herald there has been pent up demand for the recently launched high performance BMW M3 sedan and M4 coupe, which retails for $163,000 and $170,000 respectively.

BMW New Zealand dealers sold almost 2000 new vehicles in 2013 and appear on target to better that number this year.

McLaren sales person Luke Neuberger told the Herald that three McLaren P1 models bought by customer’s last year, that are worth more than $1.5 million each, are due to arrive in New Zealand this year.

The company has sold and delivered a number of MP4-12C Coupé and spider models – costing between $380,000 and $500,000 – and were awaiting the arrival of several new-model 650S sports cars.

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