Automakers such as Ferrari, Aston Martin and Bentley are poised to continue profiting from rising European demand for their high-priced supercars and limousines.
This year in Europe -- the world's largest market for a sector Automotive News Europe classifies as exotic -- overall sales are on track to reach 12,980, up from 10,677 in 2016, according to analyst LMC Automotive. European sales of cars such as the Ferrari 488, the best-seller in the exotic segment, and the second-ranked Aston DB11, will rise to 14,800 in 2020 -- a 38 percent increase on last year -- LMC predicts.
The sales surge is being fueled by the worldwide growth in the number of ultra-high net-worth buyers. "The total number of billionaires has doubled since 2010," said Felipe Munoz, global analyst for JATO Dynamics. The rich are currently being fed by a steady flow of new models, more so than is usual in a segment where the high cost of developing replacement versions traditionally has meant life cycles are longer than in the rest of industry.