Luxury auto CEOs see K-shaped split at market's top

Industry

โดย Yahoo Finance·

Summary · why it matters

Luxury auto executives at Monterey Car Week say the market is splitting even at its highest end, with ultra-wealthy buyers driving record demand while the tier just below them hesitates. McKeel Hagerty, CEO of Hagerty, said $100 million car collections are now being built in months rather than decades, fueled by liquidity events like company sales and IPOs. Bentley CEO Frank-Steffen Walliser said top-end business is very good but more regular customers are slowing, while Aston Martin CEO Adrian Hallmark said it is the middle tier that is most susceptible and hanging back rather than withdrawing. Bugatti CEO Mate Rimac noted the company makes 100 cars per year against roughly 300,000 ultra-high-net-worth individuals, and McLaren CEO Nick Collins cited an explosion of AI-related millionaires in the US, Europe, the Middle East, and China. Lamborghini CEO Stephan Winkelmann struck a more cautious tone, citing war in the Middle East, a weakened dollar, and a dramatically dropped Chinese market, even as the brand posted record revenue.