The luxury car market is still positive with sales on the rise worldwide and even countries like Germany and the UK have been enjoying demand in exports for their luxury car brands.
This buoyant demand and the rise in sales for luxury cars is predominately due to a growing trend in emerging economies around the world like those in India and China, especially as there is significant growth in both millionaires and billionaires within these countries, which are now only second to that of the USA.
Another factor is many UK purchasers of luxury cars are taking advantage of the very low interest rates, which means many people who are in a situation to make a purchase, can upgrade to a higher specification luxury car or more expensive model, knowing their interest repayments will be much lower than normal and this is especially good for tax purposes for businesses.
A model that has done particularly well sales wise is the Range Rover Sport and they are not the only ones, other manufacturers which have seen a significant positive trend in luxury car sales were Porsche, Aston Martin, Mercedes and Bentley. It’s worth noting that the amount of used luxury cars for sale is also seeing a growing demand, which has meant that the annual depreciation rate has been reduced because of the increased demand.