Luxury market details revealed
Research by click4reg.co.uk has revealed the most popular brands, models and colours in the luxury car market in the UK in 2016.
Luxury car registrations, for brands like Porsche, BMW and Jaguar, were up 29% compared to 2014. This is reflective of the global market as a whole, where the super-luxury car market has reached record numbers with 28,500 units registered. A double-digit growth from 2015.
Ultra or ‘super luxury’ brands include Ferrari, Bentley, McLaren and Lamborghini. Super-luxury cars were also reaching new registration levels in the UK in 2016 at 4,600 units; an increase of 15.6% from the previous year.
Although brands like Rolls Royce and Bugatti are still classed as status symbols, research revealed that this may not be the only reason why the super-rich buy these makes. With registrations for luxury electric cars by Tesla increasing by 82% from the previous year, it can be suggested that drivers are in pursuit of the latest in innovation.
Luxury cars are ahead of the game when it comes to meeting the 2040 ban on diesel and petrol cars. Rolls Royce has said they are skipping hybridisation altogether, and are pursuing electric cars instead, which Torsten Müller-Otvös, the CEO of Rolls Royce, commented was ‘the way forward’. Maserati also announced last year the arrival of their first electric car model by 2020, and the CEO of Bugatti, Wolfgang Dürheimer, has also stated that ‘electrification will happen’. Specifically, the Bugatti Chiron looks to be electrified to enhance its performance.
According to an FOI response from the Driver and Vehicle Licensing Agency (DVLA) released July 2017, the luxury-car buyers often desire more off-beat, vibrant colours.
Black was the most popular colour overall within the luxury car sector with orange being the most popular colour for McLaren owners, red for Ferrari and 10% of all Lotus registrations being yellow.
Of the luxury brands, according to the research, Bugatti came out as being the rarest, with only three registered in 2016, and no information on what models these were.