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Ultra-High-End Luxury Auto Market Expected to Grow

Posted: Apr. 18th, 2013  |  By DailyLuxe News

With the demographic on high net worth/high-income individuals set to grow three to five percent annually over the next several years, the trend of the highest end of the luxury market growing and experiencing record-setting sales is expected to continue.

The Economist reports that Rolls-Royce, a division of the BMW Group, sold a record 3,575 cars in 2012. Volkswagen’s Bentley Motors also experienced a record-setting year in sales, showing a growth of 24 percent in 2012 over the previous year.   

“One thing is for sure,” says Rolls-Royce’s boss, Torsten Müller-Ötvös. “You will see more rich people in the world.” The group of “ultra-high net worth individuals” from which his customers are drawn is expected to grow by 3-5% a year in the years ahead. And in East Asia, where sales are growing fastest, it is more acceptable—expected, even—to underline your success in life by conspicuous consumption.

Read More on economist.com
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