From Nasdaq OMX Group:

The ultra-luxury car market is booming, with automakers like Ferrari, Lamborghini, Rolls-Royce Holdings Plc, and Bentley Systems Inc seeing record-breaking demand for personalized vehicles. Gonzalez Lastra investment partner with Tema ETFs said, “Personalizations, customizations, have actually been the key driver behind the better than expected earnings throughout the year.”

These vehicles cater to a small, ultra-wealthy customer base, with at least $30 million in potential spending money, creating a lucrative market for ultra-luxury vehicles.

The surge in demand for ultra-luxury customized cars indicates the growing wealth of the global elite and the broader luxury car market shift. Tesla overtook Bayerische Motoren Werke AG as the top-selling luxury car brand in the U.S. in 2022. This shift in consumer preferences also reflects in the success of luxury electric vehicle companies like Lucid Group Inc and new players like Chinese EV manufacturer BYD Co Ltd, which is launching high-end EVs into the luxury car market.



Read more: Wheeling In Wealth: Ultra-Luxury Car Makers Ferrari, Lamborghini, Rolls-Royce Ride High On Soaring Demand For Personalized Rides (CORRECTED)