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The Ultra-Rich
Are Still Buying Cars
November’s
auto sales figures were abysmal with U.S. vehicle sales dropping
37%. Hardest hit were the American manufacturers with Chrysler
leading the way with a 47% drop. General Motors and Ford didn’t
do much better either with drops of 41% and 31% respectively.
Even the
foreign auto manufacturers are starting to feel the pressure of
the failing economy. The ever-popular Toyota saw sales slide
34%. While close competitor Honda fell 32%.
Even the
more economical foreign cars saw sales fall dramatically.
Hyundai and Kia, makers of cheaper cars which should be more
attractive in these tough economic times, saw sales fall by 40%
and 37% respectively.
So who is
buying cars these days?
Well, it
seems as though the ultra-rich have not lost their appetite for
buying expensive cars. Ferrari was the only manufacturer to post
sales growth in November with 137 new Ferrari’s sold compared to
the 133 last year. With prices generally starting above $200,000
these certainly aren’t the types of vehicle the average Joe will
ever be able to afford to drive.
So while
there are over 1.9 million workers that have lost their jobs
this year and millions more that are living in dread that they
may lose theirs soon too, rest assured that the wealthy elite of
this country are doing their part to try to stimulate the
economy. If that means having to buy a new Ferrari, so be it.
They are willing to make those sacrifices for the good of the
country.
|
|
Nov-08 |
Nov-07 |
% Change |
|
BMW |
19,801 |
27,022 |
-26.7% |
|
Chrysler |
85,260 |
161,088 |
-47.1% |
|
Daimler |
16,001 |
22,843 |
-30.0% |
|
Ferrari |
137 |
133 |
3.0% |
|
Ford |
122,723 |
176,646 |
-30.5% |
|
General Motors |
153,404 |
261,273 |
-41.3% |
|
Honda |
76,233 |
111,431 |
-31.6% |
|
Hyundai |
19,221 |
31,883 |
-39.7% |
|
Isuzu |
130 |
496 |
-73.8% |
|
Jaguar |
2,755 |
5,466 |
-49.6% |
|
Kia |
15,182 |
24,177 |
-37.2% |
|
Maserati |
158 |
305 |
-48.2% |
|
Mazda |
14,134 |
20,580 |
-31.3% |
|
Mitsubishi |
5,096 |
7,983 |
-36.2% |
|
Nissan |
46,605 |
80,683 |
-42.2% |
|
Porsche |
1,378 |
2,662 |
-48.2% |
|
Subaru |
13,706 |
14,868 |
-7.8% |
|
Suzuki |
3,216 |
5,987 |
-46.3% |
|
Toyota |
130,307 |
197,189 |
-33.9% |
|
Volkswagen |
21,342 |
27,191 |
-21.5% |
|
|
|
|
|
|
Total |
746,789 |
1,179,906 |
-36.7% |
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