Generation Y is commonly touted as the generation of entitlement and immediate gratification, and although some might argue it seems luxury car sales and statistics are backing up the "I want it now" trend of young people. BMW's M3, for example, is a car that starts at $54,000, and although that price tag would normally mean an older and wealthier demographic its most popular buyer is in their mid-20s. It seems the young people of today not only want high-end luxury cars but they're stretching themselves and scrimping in other places to have them. Brands across the board are noticing the trend, which in today's economy is a little surprising (and scary!).
So the economy has been taking a hit lately, but as a general rule the highest of high end products haven't really been affected -- apparently those with money up to their ears haven't been feeling the pinch, until now.
Numbers are streaming in from luxury car brands reporting serious sales drops this year from 2007 -- Jaguar sales fell by 52% (whoa!), BMW by 27%, Porsche by 13%, and Land Rover by 17%. Even Ferrari (surprisingly) reported a decline for this past January, although they claim the drop from last year was both planned and expected.
It will be interesting to see what the rest of 2008 brings for the luxury car market.
The luxury market may be floundering but it was the best year ever for Bentley. The luxury car company sold 10,014 units worldwide, outselling Rolls-Royce, which also broke through the 1,000 mark for the first time last year, by around 10 to one. As you might expect, Bentley's biggest increase was in China, where sales grew by a blistering 93% (with a total of 338 units). Sales in North America were up 4% with 4,196 units sold. It was the first year the cars were sold in Korea and 100 were sold.
The term "luxury car" can apply to autos priced from fairly economical $20,000 options all the way up to the indulgent $400,000 range and higher. It's a large class of vehicles. And although everyone may not agree (with that many cars in the mix there's bound to be varying opinions!) this list is a fun one: Forbes has narrowed the new 2008 luxury releases into their own top 10 most anticipated. Here's their list, but as in anything with cars to really get the effect you should see it in pictures.
I recently received an email from Noah of Gotham Dream Cars that they have a new program known as DreamShare. The company, which rents out exotic cars, now has a membership program. Like other programs, they use a points-based system with several levels of membership which equal different amounts of driving time. The Platinum membership for $9,000 offers 20 driving days, the Titanium for $18,000 gives you around 45 days and the Elite membership, for $27,000 gives you three months worth of driving time. So far they have offices in NYC and Miami (the better for driving convertibles in the winter months) and are planning an office in Vegas. Their 17 vehicle fleet includes Aston Martin Vanquishes, Murcielagos, Gallardo Spyders, 360 Spiders, a Bentley GTC and more.
While we'd like to think that all of our favorite luxury cars are as reliable as they are desirable, that is not the case. Autoblog just listed the five least reliable luxury cars of the year. The list comes from Forbes and was compiled using data from J.D. Power and Consumer Reports.:
Land Rover LR3 SUV (pictured is the 2007 model)
Land Rover Range Rover SUV
Lincoln Navigator SUV
Saab 9-3
Volkswagen Touareg SUV
The only questionable choice on the list is the Volkswagen - is a Touareg really a luxury car? If they had to reach that far down-market, it probably bodes well for some of out favorite wheels in terms of reliability.
Our friends over at Autoblog have uncovered a new survey that places Rolls-Royce at the top of the Ultra-Luxury car heap. Besting last year's top name, Maybach, Rolls-Royce scored higher in quality, uniqueness, and exclusivity than its German competition. This comes as no surprise the countless Rolls fanatics that simply cannot imagine driving anything other than a British-made behemoth. With the stellar Phantom and soon-to-come convertible, Rolls-Royce stands to maintain its edge with great innovation and a tradition of excellence that has made it famous all these years.
Usually, the Rolls-Royce doesn't ooze of sex appeal to me. It's elegant, classy and classic but sexy? The Rolls-Royce Phantom Black however makes me a bit hot under the collar. Classic Driver reports that the all black car was created through the bespoke program at Goodwood. It has diamond black exterior paint with twin silver coach lines and black visible tail pipes. The wheels have run-flat tires and center caps with Rolls Royce badges that stay upright even at high speeds. Inside the car has black leather upholstery with seashell piping and black ash wood veneers and silver pinstriping detail. Apparently there were only 25 of these cars made and they are already taken. Sex sells.
Our siblings at Autoblog have pics and details on the Toyota Alphard Royal Lounge, a vehicle with the exterior of a boxy minivan and an interior that is all leather and polished wood. It has video screens, fold-out power ottomans, tray tables and a refrigerator console for all your beverages. Basically it has a private jet-like feel but with a minivan's practicality and anonymity. At seven million yen (around $61,000) it's not quite in the Maybach's league but then again it probably isn't quite as speedy at the zero to sixty hop either. Autoblog's readers were pretty split on whether this was incredibly cool or nothing special at all. At least it is available as a hybrid which is more than you can say for Maybach at this point.
The hardworking folks in the Washington DC area must really need to let off some steam in fancy cars. We already knew of one luxury car rental service in McLean, Virginia, now here's another. Pure Exotics Dream Automobile Rentals has a couple of cars and just addedd a new convertible Dodge Viper SRT-10 to its rental fleet. Their stable also includes a Ferrari 360 and Lamborghini Gallardo. You can make the Viper yours for $600 per 24 hours.
A few weeks ago we learned about young Spyder Dobrofsky, a teenager with a yen for filming exotic cars in the fertile hunting grounds of Beverly Hills. Spyder first came to nationwide attention when he caught pictures of Stefan Eriksson's wife having her Mercedes McLaren confiscated. The LA Times profiles Spyder and his merry band of teenage filmers as they hit the streets with their video cameras creating footage for car-spotting sites like ExoticSpotter and StreetFire. The article has more pictures of Spyder, his brother Dash and the rest of the "Car-parazzi." Spyder and Dash's parents are supportive of the hobby and spend lots of family time shuttling the boys around the pricey neighborhoods where these cars are often found.
Which places in the world sell the most
Rolls-Royces? The 2005 sales figures have been released and Dubai is now fourth in Rolls sales behind Beverly Hills,
London and Tokyo. It was a good year for Rolls overall, selling 796 cars, less than the 1,000 we learned was their goal last
August but still an increase over 2004 and a 15 year high for Rolls-Royce. Paris Hilton seems to be a good
indicator of the success of a luxury car. First she had a Bentley in 2004 and Bentley had a boom year, last year she
was seen in the Bentley but also in a Rolls-Royce Phantom. I am wondering if
her new Mercedes McLaren
means that next year we will be hearing about record sales of the pricey car.
We've
known for a while that many luxury sports cars were making their way to the Middle East and now the lucky owners are
getting special driving lessons. An article in the Gulf
Times covered the first "Pilota Ferrari" held in Qatar. The program, which is usually held in Italy,
included Italian Ferrari instructors who showed Ferrari owners how to improve their skills. The event was held at the
Losail International Circuit and 35 Ferrari owners brought their own cars. The program was composed of a theory lesson
in the classroom and then three driving sessions. The third session involved a bit of a race. It seems likely that the
private racetrack and car clubs will also be on the rise in that region as the interest in high performance cars
continues to rise.
Yet another story about posh car dealerships comes from the OC Register which reports on a $65
million new Lexus dealership which is said to be one of the most expensive car dealerships in U.S. history. The new
Lexus dealership is located down the street from Fletcher Jones Motorcars, the nation’s largest dealer of
Mercedes-Benz. The amenities are pretty sweet in both places. The Fletcher Jones dealership has a valet, the Newport
Lexus dealer will have a service concierge. Fletcher Jones has a Starbuck’s and the Lexus dealer will have a
Wolfgang Puck Café. There are also entertainment options including large TVs and a putting green. I’m not
quite sure why they need this in the O.C. but there will be a year-round fire in a cozy fireplace at the Lexus
dealer. A BMW dealership in Santa Ana also a Diedrich Coffee shop and is building a $31.5 million showroom that
will include iPod stations and individual televisions at every seat and a barbershop that will offer haircuts. All this
might actually make going to have your car serviced a fun trip rather than a chore.
While we'd like to think that all of our favorite luxury cars are as reliable as they are desirable, that is not the case. 
