Ultra-expensive automobiles accounted for a massive slice of the global luxury goods market last year. Across the world, the super rich spent almost $438 billion on fancy cars in 2014. Personal luxury items like perfume, jewellery and clothing were the second largest market, accounting for $278 billion. The value of the world’s luxury goods market has increased steadily in recent times, little surprise given the increasing number of billionaires across the globe. All in all, people splurged over $1 trillion on upmarket items throughout the year.
You will find more statistics at Statista
It’s a tough job but somebody has to do it, the poor things. sarc/on
Based on the movie “Wolf Of Wallstreeet ” I don’t see the cost of hookers and coke?
When the inevitable reset we are in the midst of, runs its course, we will have a lot of moldering 50,000 sq ft mansions, and thousands of ludicrous automobiles hitting the lots. All it would take is for interest rates to “normalize”, and trillions of dollars in bad beds will start to unwind with ferocious speed and destructiveness.
It would be fun to watch if the rest of us weren’t so dependent upon this daisy chain of financial lunacy not unwinding, for the safety of our bank deposits, not to say our supplies of food and other essentials. It would be even more fun to be long a few thousand shares of SPXS or some other inverse ETF when we cross to the critical stage, but timing is difficult, and when it’s over, will you be able to collect on your successful bet?
Let this be a lesson to those who want to start a new business ….. CATER TO THE RICH.
Ya can’t lose.
Funny how they left out the sizeable dot of buying off the world’s politicians and entertainers.
That is the only spend that matters.
Insanity continues until it can’t. We have to be straining the confines by now.
TE said:
“Funny how they left out the sizeable dot of buying off the world’s politicians and entertainers.”
Those are business expenses and deductible.
Gonna have to throw the bullshit flag on this post. Fzzzzt, and there goes the flag.
438 BILLION on luxury cars? Really? Do you actually believe that? Let’s do some math.
Rolls Royce in 2014. Production: 4,063. Estimated average price tag per vehicle: $450,000 (the Ghost starts at $250,000 and the Phantom up to $650,000). Total revenue: ca $1.8 billion.
Bentley in 2014. Production: 10,000. Estimated average price tag per vehicle: $230,000. Total revenue: ca $2.3 billion.
Ferrari in 2014. Production: just shy of 7,000. Estimated average price tag per vehicle: $300,000. Total revenue: ca $2.1 billion.
Well, fans, we’re at just over $6 billion. Only $432 billion to go. I’m sure the likes of Aston Martin, Maserati, and Lamborghini will close the gap quickly.
I’m surprised the math genius known as Admin fell for this crap. Aren’t you folks glad to have me around to help keep him and you straight? The thumbs up button in the one on the left. Click on it to show your appreciation.
The post specifically states “ultra expensive cars” bought by the uber wealthy, for which my examples of Rolls Royce, Bentley, and Ferrari fully qualify. But I have to help Admin close an embarrassing $432 billion dollar gap between reality (my math) and fiction (figures in the article he posted).
Here’s what I’m gonna do, just to show how generous I am. Per Forbes, the total sales revenue of Mercedes Benz in 2014 was just shy of $99 billion. Now, Mercedes gets a huge chunk of its revenue in its sales of “entry level” luxury cars that are in the $35,000 to $50,000 price range.
But that’s ok because I’m a generous guy, and I’m going to throw in the ENTIRE SALES of Mercedes Benz. Just to help Admin close the $432 billion dollar gap. He only has $333 billion to go. Heh.
SSS, there are quite a few “ultra expensive cars” that go for well over $1,000,000 and they are a fast growing niche in the luxury car industry. You are right though, 438 billion seems a bit high. Given their “$1.1 Trillion” total, it’s not a typo.
“You are right though, 438 billion seems a bit high.”
I_S @ SSS
Come on, man. Get real. A “bit high”? It’s total fiction. This post is another economic class-warfare propaganda hit job which doesn’t stand up to reality.
Jeezuz SSS, you’re just never fucking happy about anything anymore are you? Krist! I thought I was bad but you got me beat.
Here! Enjoy the pic and grab a handful of wood and get busy!
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Hmmm, there appear to be two long parallel white stains on the left breast of her dress. I wonder if she knows Monica or Bill?
“Jeezuz SSS, you’re just never fucking happy about anything anymore are you? Krist! I thought I was bad but you got me beat.”
—-I_S
I AM happy. I’m deliriously happy. I’ve got that mangy cur Admin trapped, painted into a corner. He can’t escape. None of his loyal subjects, not even Stucky, can rescue him. Note the sheer lack of responses from anyone, including him. He’s toast.
[img]https://encrypted-tbn3.gstatic.com/images?q=tbn:ANd9GcSucm1Qv3RfI9qHsZnSvNZx4nxOwmAkOi9xSBKcjcobpBBMxHrl[/img]
You need to get out more SSS!
I don’t often agree with Super Secret Squirrel…
Bur I think he has a point here.
By interpolation, I figured the net worth of the top tier is $1.1 Trillion, that was a few years ago; it may be bit more today. That sum includes all property, I don’t think they would spend it all in a year. They probably don’t even spend it at all. The only people you see shopping in malls and outlets are the dupes who don’t know the country is in a recession.
That was for the USA, the richest mofo country in the world