Despite economic headwinds, the luxury car sector remained resilient and posted exceptional financial results last year in 2022. Many marques managed to beat their personal records and delivered record numbers of cars to owners worldwide. In particular, brands like Rolls-Royce, Bugatti, Lamborghini and Porsche were leading the pack in terms of sales.
For the Goodwood car manufacturer, it set a new sales record in 2022 and delivered a total of 6,021 motor cars. This number is the highest that Rolls-Royce has ever achieved in its 118-year history over a 12-month period. The company saw growth in most of its key markets like the Middle East, Asia Pacific, the US and Europe. Specifically, Rolls-Royce shared that the Asia Pacific market had attained its strongest year yet. At the same time, regions in Australasia and Southeast Asia saw its growth boosted by an increasingly younger customer base.
Furthermore, as a true House of Luxury, its Bespoke commissions also reached record levels with its order book secured well into 2023. Its first-ever electric car, Spectre, also received an overwhelming demand. The luxury marque’s CEO Torsten Müller-Ötvös shared that “The order intake for the Spectre is far better at this moment than we would have expected.” And should the trend continue, the company will probably have to adjust their plans to accommodate this demand. Overall, it is a good problem to have and shows that Rolls-Royce continues to be a desirable car brand within the luxury sector.
Over at Bugatti, 2022 was a record-breaking year for the French luxury marque. The company shared that “no fewer than 80 new Bugatti hyper sports cars found homes around the world.” A favourite amongst serious car enthusiasts, Bugatti represents the pinnacle of craftsmanship and dedication to the art of car making. Of the 80 hypercars built in 2022, notable models were delivered to satisfied customers like the 400th Chiron model, the final nine Chiron Super Sport 300+, all 10 of the Centodieci and the last Chiron and Chiron Sports in for Europe. Orders for the Chiron, Bolide and the newly released W16 Mistral have all been booked.
To fulfil the demands for customisation at Bugatti, the marque launched the Bugatti “Sur Mesure” programme where individuals tailor the car to their own specifications. This has yielded spectacular results like the “Vagues de Lemière” paintwork which mimics the way lights reflect off Chiron Super’s curved panels.
Reflecting on Bugatti’s exceptional year in 2022, Christophe Piochon, President of Bugatti Automobiles, said: “Like all first-class international luxury brands competing at the very top level of design and performance excellence, Bugatti encountered various challenges in 2022. But with a team that’s unmatched in terms of talent, passion and dedication, Bugatti has once again met such challenges head on, creating and realising exciting opportunities.”
At Lamborghini, the Italian automaker delivered more than 9,000 cars to customers in 2022 and this translates a 10 per cent increase compared to the previous year and continues on its impressive growth. Similar to Bugatti and Rolls-Royce, Lamborghini also saw its best sales figures ever. The Urus Super SUV saw its delivery grown by 7 per cent, the Huracán up 20 per cent and the Aventador saw 753 units delivered. Furthermore, 2022 also marked the launch of the Huracán Tecnica, Huracán Sterrato, Ururs Performante and Urus S.
The company projects a further acceleration in 2023 when its first hybrid cars are produced and as Lamborghini enters its second phase of the Direzione Cor Tauri programme where about 1.8 billion euros is invested over five years.
Stephan Winkelmann, Chairman and CEO of Automobili Lamborghini, remarked: “Our trend of growth and development continues, and this shows that our direction is sound and our choices are on the mark. This is the product of well-defined collective assessments that can produce consistent and concrete results. We have been able to carefully and meticulously manage an extraordinary order intake, pursuing a clear strategy with the primary objective of maintaining controlled growth to protect the exclusivity of our brand. 2023 is going to be a year of challenges and changes that we are ready to confront by always pushing ourselves beyond. We now have the opportunity to focus on our next objectives also thanks to an 18-month waiting list, which enables us to look to the future and the upcoming goals with confidence.”
In the fiscal year of 2022, the German carmaker Porsche saw a slight increase in deliveries of its vehicles by 3 per cent to a total of 309, 884. Breaking down further into the key markets: Europe had a 7 per cent increase in sales; North America matched the previous year’s level; China dipped by about 2 per cent due to effects of the Covid pandemic; the Overseas and Emerging Markets registered a 14 per cent increase.
Of the range of products offered by Porsche, its SUVs garnered the highest demand. Taking the top spot is Porsche Cayenne, followed by the Macan, Porsche 911 and the Panamera. The Taycan is Porsche’s most-ordered vehicle.
Speaking more about Porsche’s performance, Detlev von Platen, Executive Board Member for Sale and Marketing said, “The many challenges caused by the war in Ukraine, interrupted supply chains and the ongoing semiconductor crisis have shaped the past year and put us to the test.”
“So I am all the prouder of the entire Porsche team. In this difficult environment, we have succeeded in fulfilling the dream of owning a Porsche for more customers than ever before.”
Luxury Cars Going Stronger than Ever in 2023
The results of these car brands show that despite a looming recession, the demand for luxury products is still going strong. In an article by CNA Luxury, Lars Nielsen, Managing Director of BMW Group is quoted saying that “While the automotive industry is not immune to economic cycles, the luxury segment tends to be rather resilient when the market is experiencing some turbulence. The aim is to keep the momentum going when times are challenging and come back in full force once the situation becomes more favourable again.”
This is aptly seen across the different brands as many of their order books are well secured into 2023. Following the growing demand for electric vehicles, this will further boost sales as new models are subsequently revealed and the 2030 deadline approaches ever so quickly.
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