Supercar Sales Drop By Two Thirds
Discussion
Gnevans said:
Article in today’s Times.
Supercar registrations fell by two thirds March 22-23 660 odd registered whilst in the previous year it was circa1900.
Does the article define what they are counting as a supercar?Supercar registrations fell by two thirds March 22-23 660 odd registered whilst in the previous year it was circa1900.
Genuine question, not meaning to open a massive can of worms... again
Annual sales of new “supercars” fell by two thirds as the super-rich slowed their post-pandemic spending splurge.
In the year to March, only 621 new supercars produced by the largest luxury manufacturers were registered in the UK, compared with 1,906 new cars added in the year to March 2022 and 1,099 in 2021. Between them, Bugatti, Ferrari, Koenigsegg, Lamborghini and McLaren had about 19,500 cars on the road by the end of March this year, official figures from the DVLA show.
Consumer tastes have shifted away from specialist sports cars, with figures from the Society of Motor Manufacturers and Traders showing market share in Britain has fallen by 52 per cent over the past decade.
David Kendrick, from UHY Hacker Young, the accountantcy group that compiled the analysis, said that interest rate rises were a key reason. “Interest rates are impacting every corner of the economy,” he said. “The slowdown in supercar sales shows that not even the ultra-wealthy are immune.”
The sector looks likely to be the last to switch to electric cars. Stephan Winkelmann, the boss of Lamborghini, said last week that the company “can afford to leave the door open for a few years yet” on electric-powered supercars.
Michael Leiters, McLaren’s chief executive, said last month it would be “very, very challenging” to make a “relevant” electric supercar by the end of the decade.
In the year to March, only 621 new supercars produced by the largest luxury manufacturers were registered in the UK, compared with 1,906 new cars added in the year to March 2022 and 1,099 in 2021. Between them, Bugatti, Ferrari, Koenigsegg, Lamborghini and McLaren had about 19,500 cars on the road by the end of March this year, official figures from the DVLA show.
Consumer tastes have shifted away from specialist sports cars, with figures from the Society of Motor Manufacturers and Traders showing market share in Britain has fallen by 52 per cent over the past decade.
David Kendrick, from UHY Hacker Young, the accountantcy group that compiled the analysis, said that interest rate rises were a key reason. “Interest rates are impacting every corner of the economy,” he said. “The slowdown in supercar sales shows that not even the ultra-wealthy are immune.”
The sector looks likely to be the last to switch to electric cars. Stephan Winkelmann, the boss of Lamborghini, said last week that the company “can afford to leave the door open for a few years yet” on electric-powered supercars.
Michael Leiters, McLaren’s chief executive, said last month it would be “very, very challenging” to make a “relevant” electric supercar by the end of the decade.
Gnevans said:
Consumer tastes have shifted away from specialist sports cars, with figures from the Society of Motor Manufacturers and Traders showing market share in Britain has fallen by 52 per cent over the past decade.
This is an interesting stat, I was under the impression that the volume of supercars being bought over the last decade was increasing significantly rather than declining, especially in a decade of cheap finance and credit. Mark_Blanchard said:
It's not really surprising considering interest rates are back to their historical average and money is more expensive to borrow.
This will surely have a knock on effect with second hand prices too.
I'd say it already has, just look at what is selling (or not) on Collecting Cars for exampleThis will surely have a knock on effect with second hand prices too.
I'd be curious to see a breakdown here, but I can't seem to find the data from the DVLA / Department Of Transport. The .gov website only seems to have aggregate data. I imagine a lot of detail is going to get missed in the headline figures here.
They are partly blaming interest rates, but supercars tend to be ordered several months in advance, and these figures cover the period Apr 2022 to Mar 2023. The cars in question will have been ordered possibly as early as Q4 2021, when interest rates were still below 0.5%, and it wasn't until Q4 2022 that they went above 2.5%. It would be good to see how they changed month-on-month.
As with others I am curious what they count as a supercar. Lamborghini sells more SUVs than supercars now, are they including the Urus? If so the numbers for actual supercars will be much lower than they appear here. How much of this is the shifting of production volumes around between models?
They are partly blaming interest rates, but supercars tend to be ordered several months in advance, and these figures cover the period Apr 2022 to Mar 2023. The cars in question will have been ordered possibly as early as Q4 2021, when interest rates were still below 0.5%, and it wasn't until Q4 2022 that they went above 2.5%. It would be good to see how they changed month-on-month.
As with others I am curious what they count as a supercar. Lamborghini sells more SUVs than supercars now, are they including the Urus? If so the numbers for actual supercars will be much lower than they appear here. How much of this is the shifting of production volumes around between models?
ex-devonpaul said:
This is new registrations.
In which case there will be a decline in used supply shortly which should prop up prices.
Unless the manufacturer goes under.
Very true ^^^In which case there will be a decline in used supply shortly which should prop up prices.
Unless the manufacturer goes under.
I doubt the interest rates have any impact on the 'super-rich'.
Most likely the other article at the weekend that said sales were down due to those with "10% deposit / 90% finance". Sales were strong in the £1M+ price bracket and stable in the 50/50 finance £250-350k bracket with plenty of buyers.
Assuming you have the funds and you want a 'bog standard' brand new 2 door, 2 seater, v8 (or v6 as its now seems) supercar what options do you have?
750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
So even if you had cash what exactly would you buy new? There is very little available. There is nothing I would buy ATM if I had £1M in my pocket except perhaps a Superformance GT40 and a house in Antibes with the change. I would suggest this is why sales are slow rather than papers guessing what the super rich may or may not be doing.
Bispal said:
Assuming you have the funds and you want a 'bog standard' brand new 2 door, 2 seater, v8 (or v6 as its now seems) supercar what options do you have?
750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
Huracan Tecnica as the last, best and rarest N/A V10 lamborghini.750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
Ala 458 and speciale
Proper old school supercar.
I'm afraid the golden era of suoercars is over from here.
Going twin turbo was bad enough but going hybrid and EV is just a step too far.
RIP the supercar, motoring will never be the same in your million bhp white good
Nuttbelle said:
Bispal said:
Assuming you have the funds and you want a 'bog standard' brand new 2 door, 2 seater, v8 (or v6 as its now seems) supercar what options do you have?
750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
Huracan Tecnica as the last, best and rarest N/A V10 lamborghini.750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
Ala 458 and speciale
Proper old school supercar.
I'm afraid the golden era of suoercars is over from here.
Going twin turbo was bad enough but going hybrid and EV is just a step too far.
RIP the supercar, motoring will never be the same in your million bhp white good
Bispal said:
Nuttbelle said:
Bispal said:
Assuming you have the funds and you want a 'bog standard' brand new 2 door, 2 seater, v8 (or v6 as its now seems) supercar what options do you have?
750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
Huracan Tecnica as the last, best and rarest N/A V10 lamborghini.750s - I doubt many will buy, too similar to 720s
296 GTB - difficult enough for Ferrari to supply at current levels as it is (other Ferraris special / ltd editions are not supercars)
Huracan - too old?
McLaren MC20 - possibly
Ala 458 and speciale
Proper old school supercar.
I'm afraid the golden era of suoercars is over from here.
Going twin turbo was bad enough but going hybrid and EV is just a step too far.
RIP the supercar, motoring will never be the same in your million bhp white good
Bispal said:
And that's partly why sales are down. Nothing to buy. The super rich are now buying resto mods, not new supercars, who wants a new supercar anyway?
I'm definitely not super rich but i have always had new cars on order for the last 10 years but not anymore as none of the new stuff interests me at all.Purely looking at the best of the back catalogue now.
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