Sales of specialist sports cars rose by 7% year on year in 2020 to take 2.9% of the overall market for new cars. During a pandemic with lockdown periods and limited ability to go out and have fun behind the wheel, that’s quite impressive. Most of these were models like the Audi TT and Mazda MX-5, but what about supercars from marques like Ferrari and Lamborghini?
Here’s where the picture isn’t so rosy. With the exception of Ferrari, sales numbers were down. Felipe Munoz, an analyst at Jato Dynamics, said supercar prices also fell by 0.8% across the three major European markets (the UK, Germany and Switzerland).
“It’s mostly the result of the introduction of cheaper versions and lower demand for the most expensive ones,” said Munoz.
That view is echoed by many of the dealers we spoke to. Andrew North, managing director of Alexanders Prestige in North Yorkshire, said sales of supercars under £200,000 were very good in 2020. In fact, he said he sold seven Ferrari 488s for what he called “strong money” in August alone. But North said there are just too many manufacturers making too many cars at the really high end of the market and that has forced a decline not just in prices but also in demand.
He cited McLaren as an example, saying it has made too many cars and too many choices. “McLaren has ruined it for themselves,” said North. That will not be good for McLaren to hear but the Woking company is not alone.
“All the manufacturers are competing, so we’ve got a McLaren Elva, an Aston Martin Speedster, a Ferrari [Monza] SP1 and SP2,” said Edward Lovett, founder of auction site Collecting Cars. “I just don’t know all the buyers for these cars.”
Buyers are still keen on ultimate exclusivity, though. Tom Hartley, founder of the dealership that bears his name, has just taken delivery of a Bentley Pikes Peak Continental GT, one of only three made in right-hand drive.
“A Bentley collector will buy that car from me because there are only three. He will be one of only three people in the whole world to own one,” he said.
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I think it's hilarious that thanks to some people falling for leasing (or is that 'fleecing'?) deals which have allowed car makers to dramatically, and stealthfully, increase their list pricing for all cars, some of us have completely taken our eye off supercar price inflation because even entry-level superminis command an out-of-reach-for-most list price now.
Now I know what a supercar costs these days, I think I'll chuckle some more - it'll take my mind off how obscenely rich and selfish some people are (I don't think I could sleep at night knowing I've just bought a supercar for all that money that I'll hardly drive whilst people are suffering or even dying because of poverty).
The track thing always was ridiculous.
Any road car is totally crap on a track compared to even the most bent Formula Ford car in existance. And if you make them half decent on a track, they are rubbish on the road.
Furthermore, there is no value-enhancing glamour in driving around Silverstone for hours on end for no obvious reason either.
All the valuable old stuff either really was a racing car with history, or was a road car that never went near a track.
I believe this is a blip and come the summer (hopefully) when some form of normality returns they'll be a huge spend across the board on a whole manor of consumables and the super cars mentioned will creep up to pre covid prices.
The one point I do agree with is there are too many variables/models in this sector.
IMO cars that nudge over the 200K asking price (new or used) are frankly asking for trouble. Ferrari with so much qudos, is probably the only brand worldwide being the exception.
Super cars are not that super any more...