Sales of luxury cars booming

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New figures reveal that sales of luxury cars are soaring as orders for the type of Rolls-Royces, Bentleys and Porsches favoured by the super-rich surge ahead of demand for more run-of-the-mill cars. It seems it is not just in China that demand for the most exquisite of cars is going through the roof. Here in the UK, despite the raft of austerity measures announced by the Chancellor of the Exchequer, sales of cars at the very top of the spectrum are doing very well indeed.

Rolls Royce have revealed that sales for the first half of 2010 have doubled, Porsche has reported an 83% and Bentley has a 12-month long waiting list for the new £220,000 Mulsanne saloon.

The massive rises come as general sales of cars plunged by 19 per cent, with less well-heeled consumers putting off buying “big ticket” items amid job fears.

Latest figures for September show the spending frenzy on luxury cars continued in the run-up to George Osborne’s spending review, which could cost half a million public sector jobs.

Sales of cars like the £200,000 Rolls-Royce Ghost, one of which has just been purchased by Manchester City footballer Shaun Wright-Phillips, were described as “excellent”. Chief executive Torsten Muller-Otvos said: “We are well on our way to at least doubling our 2009 sales.”

While Porsche said its customers were no longer hampered by the banking meltdown. “The people who buy our cars don’t have the same constraints as someone replacing the family hatchback,” said a spokesman. “A Porsche is not a necessity and customers held off a year ago. But we have seen a return in confidence.”

Source: Mirror.co.uk