LUXURY CARS

#HelloLifestyle by Clare Petra Matthes mImages: Supplied

A Highly Competitive Motoring Market

The luxury car market is a small but significant segment of the overall automotive industry. Sales of luxury cars have been on the rise in recent years, driven by factors such as increasing global wealth, financing options, and government incentives. The market is highly competitive, with a wide range of manufacturers and models vying for buyers. In the coming years, the luxury car market is expected to continue growing, driven by factors such as rising wealth, improving economic conditions, and technological advancements. As more people around the world become wealthier, they are increasingly looking at acquiring high-end vehicles. This is particularly true in emerging markets such as China, where a growing middle class is driving demand for luxury cars.

Another factor driving luxury car sales is the increasing availability of financing options. Many luxury car manufacturers now offer financing and leasing options, making it easier for consumers to purchase these vehicles.

NUMBERS DON’T LIE

Despite carrying an average price tag of around $534 000 (about R9.1m), Rolls-Royce reported record sales for the luxury car manufacturer in 2022. While Bentley Motors sold a record 15 174 vehicles (up 4% from the previous year’s 14 659), Lamborghini shipped 9 233 automobiles across the globe - a 10% increase from the previous year. Bugatti also ended up breaking their annual record, with 80 new vehicles shipped worldwide.

“The distribution of wealth within a nation or region has an impact on the luxury car market, which typically follows broader economic trends,” according to Statista.com. “Owning a luxury car is regarded as a status symbol, and because they are expensive, there is a limit on who can afford them and how many may be purchased. MercedesMaybach, Porsche, Rolls-Royce, Bentley, Cadillac, and Lincoln will continue to dominate this market's sales.”

The US dominated Rolls Royce sales, with America continuing to be its leading market with almost 35% of sales. Lockdowns due to Covid-19 in China (the second-largest market for Rolls Royce) caused a "single-digit decline" in sales. Asia Pacific, America and Europe were the significant markets for Bentley, and if you’re hoping to get your grubby little paws on a new Lamborghini this year, prepare to be placed on an 18-month waiting list.

WHAT DOES THE FUTURE HOLD?

Looking ahead, the luxury car market is expected to continue to grow in the coming years. Factors like increasing wealth, improving economic conditions, and the growing popularity of SUVs are all expected to drive sales. Additionally, advancements in technology such as electric and autonomous vehicles are expected to further boost demand for luxury cars.

Meet The Maserati Grecale

With the increase in demand for luxury cars in 2022, the timing seemed fitting to launch the Maserati Grecale in Johannesburg.

The newest model in the Italian automaker's line-up gives away their audacious aspirations for the luxury SUV market. There are two ‘mild hybrids’ - the GT and Modena - each with a 48 volt belt starting generator for when extra power is needed, as well as the extremely exciting Trofeo, which features a 3.0 litre twin-turbo V-6 engine.

The Grecale is a striking mix of traditional Maserati design elements, contemporary design and technology. It is priced in the mid-range of the luxury car market, and packs some serious punch in terms of performance, aesthetics, and technology.

The interior offers complete luxury with leather upholstery, a full infotainment system, and a host of advanced safety features, including lane assist, automatic emergency braking, adaptive cruise control and blind-spot monitoring.

The combination of performance, luxury, technology, and cutting-edge features, is sure to afford the Grecale a spot as one of the more sought after models in the luxury car market.

This SUV is sure to turn heads.