During the coronavirus pandemic, the demand for luxury used cars increased. And this is not because the rich can’t afford new cars, but because they can’t wait for them. Luxury and expensive cars are increasingly in demand and manufacturers can not keep up with orders.
Lamborghini is experiencing the best sales period in history, with a new car waiting an average of about 10 months. Rolls-Royce CEO Thorsten Müller-Jotves was delighted in April with the fact that the brand is performing best in its 116-year history, and the order lists are full 6 months ahead. Bentley sold a record 11,206 cars in 2020, more than 30% more.
As a result, the demand for luxury used cars sold with manufacturer’s warranties is also growing rapidly.
Gary Span, a spokesman for Rolls-Royce’s US subsidiary, acknowledged that used car warranty programs typically account for one-third of the brand’s sales in the United States. Now their share is already 75 percent.
At Bentley, interest in used cars this year is 53 percent higher than 5 years ago. And this is not because customers can’t afford new ones, but because they can’t wait.
Sales of used cars are so great that a used McLaren 765LT can be sold at a price 40 percent higher than at the time of purchase in the showroom!
According to Automotive News Europe, the pandemic has limited spending money on expensive travel and chic events in different parts of the world. Thus, rich people not only have more free time, but also save extra money, and some of them spend on luxury cars. According to a US spokesman for Rolls-Royce, many customers act on the principle of “I want it now” and do not want to wait 6 months or a year for a brand new car.