Sales of the ultraluxury cars are booming this year in Europe as the likes of Bentley, Ferrari and Lamborghini shook off supply concerns to lift a segment that for many players is becoming more and more profitable.
Sales in the exotic segment rose 11 percent in the first eight months to 10,789, led by the Lamborghini Urus SUV, according to figures from Dataforce.
Growth came despite increased competition from premium players such as Maserati and Land Rover’s Range Rover subbrand that are also chasing business from Europe’s ultrahigh net worth individuals.
That double-digit percentage gain was the third highest of any segment in a year in which sales are down sharply due to manufacturing bottlenecks caused by supply shortages.
It was also the only segment gain not driven by sales of electric vehicles, which have supplied most of the volume increases this year for the two fastest growing car classes among the 21 segments that Automotive News Europe tracks: luxury sedans and premium midsize SUVs.
Exotic segment growth also came despite the run-out of the third-placed Ferrari F8, which is being replaced as the brand’s volume-selling mid-engine supercar by the 296 GTB. The F8 was the segment leader for the same period last year, but sales of the recently launched 296 have yet to catch up.
Ferrari’s supercar switchover has pushed the Urus and second-placed Bentley Bentayga SUVs to the top of the segment (see table, below).