Luxury car shoppers flock to buy supercars as they splash their Covid cash – Car Dealer Magazine
The market for supercars and luxury vehicles is stronger than ever, with a company reporting record lending volumes in May.
Finance provider JBR Capital has seen its highest levels of borrowing on models from Aston Martin, Ferrari, McLaren, Porsche and Rolls-Royce in recent weeks.
The firm’s May statistics revealed that Porsche was the most funded brand – with the 911 (991) the most popular model ahead of the Macan and Cayenne.
The result marked a change from the start of the year, when the all-electric Taycan generated the highest levels of proposals.
Data shows that supercars are now more popular than ever, with summer just around the corner, as are luxury SUVs, including the Rolls-Royce Cullinan.
This hugely successful month means UK households have now spent over £ 200 billion on luxury vehicles in the past year.
Many luxury car dealers are reporting record luxury car sales as business owners and high net worth customers spend with their savings gained during shutdowns.
JBR Capital claims that demand is currently higher than it has ever known.
Darren Selig, Founder and Chief Commercial Officer of the company, said: “The demand for high performance sports cars, supercars and premium vehicles continues to be incredibly strong.
“We had record March and April – and May has now eclipsed those months.
“Without question, there was pent-up demand, and as the restrictions eased, it broke loose in the market with our dealer introducers reporting that luxury cars were bought quickly and that there was a lack of stock.
“With clients unable to take expensive vacations abroad, many are looking to have fun.
“Plus, many are fortunate enough to have more money in their pockets through foreclosure savings as well.
“Looking further into the summer months, we believe this trend will only continue.”
After analyzing its figures for May, the firm also released a list of its 10 most popular models.
The list is visible below:
1. Aston Martin V8 Vantage
Selig said: “Stealing the lead over the V12 Vanquish, which has been our customers’ most popular Aston Martin so far, the compact, sleek and fast V8 Vantage has been a huge success.”
2. Bentley Continental
Selig said: “Fast, luxurious and relaxing, the Continental continues to be our customers’ best Bentley, but while the 4.0-liter V8 was the first choice a few months ago, the W12 is now just as good. popular.
3. Ferrari 458 Italy
Selig said: “Last month it was the 488 GTB, but now the hottest Ferrari on the market is actually its predecessor. It made up half of all the Maranello models we funded in May, which also included the Testarossa and the 250 SWB.
4. Lamborghini Huracan
Selig said: “Taking over first place from the Aventador, the Huracan accounted for over 50% of all Lamborghinis funded, with the luxury SUV Urus making up a third of the submissions.”
5. Land Rover Defender
Selig said, “The new Defender is finding huge favor with our customers; they love its combination of iconic style and rugged capacity. And while the P300 is proving to be the most popular, the Overfinch version is not far behind.
6. McLaren 570
Selig said: “Woking’s ‘entry-level’ supercar has all the right ingredients for our customers. It made up over 80% of the McLaren models we funded in May, followed by the 720S and 650S. We also have financed the purchase of a Senna.
7. Mercedes-AMG GT
Selig said: “Our customers love the AMG models, from the C-Class to the G-Class, but at the moment it’s the two-seater GT supercar rivaling the 911 that is gaining sales thanks to its V8 growl combination. and striking look. “
8. Porsche 911 (991)
Selig said: “Our customers absolutely love the 911, and in May it was the 991 generation that left the dealerships, with JBR Capital running offers on everything from Carrera 2 and 4 to Turbos and GT3.”
9. Range Rover Sport
Selig said: “Sport continues to captivate; its combination of space, luxury and versatile capacity is proving popular, with demand spread across all models from diesel to SVR. ‘
10. Rolls-Royce Cullinan
Selig said: “This may be one of the most controversial models ever made by the Goodwood-based luxury brand, but, like the Lamborghini Urus, these are extremely popular properties right now.”