full box for luxury brands

If the crisis is often synonymous with loss of purchasing power and the search for good deals, the car market seems to defy this logic, with a surprising rise in luxury car sales, to say the least, amid the pandemic.

Despite a worldwide shortage of semiconductors, after closing production lines in the automotive industry, the performance of luxury brands reflects a good commercial performance and the growing enthusiasm of a certain customer base that a luxury car is a strong social marker. status.

A perfect illustration of this breakthrough, the British brand Bentley sold 14,659 vehicles in 2021, an increase of 31% compared to 2020. Considering the astronomical prices of the most basic models of this brand, such an achievement did not go unnoticed in the spheres of the automotive industry.

Porshe, another leader in this segment owned by Volkswagen, has not escaped this trend. Its sales reached 301,915 cars, an increase of 11%, with increasing market share in several geographical areas.

→Read also: In the middle of a pandemic, sales of luxury cars are exploding

With a sales record of 2.2 million cars, BMW was boosted by the Chinese and US markets, while Tesla, an electric car specialist, saw its sales double to reach 936,172 units against 499,550 in 2020.

It is clear that this unprecedented health crisis has not been without consequences for consumer behavior around the world. Customers horrified by the devastation caused by the pandemic are turning more to luxury goods for their own well-being.

Realizing that life can be short, affluent buyers flock to the most luxurious products, at any price, to satisfy their desires and enjoy life to the fullest by purchasing high-end products.

According to several observers, the expansion of luxury cars and consumers’ attraction to SUVs at the expense of sedans have been prominent features of the car market since the outbreak of the pandemic.

The high volatility of financial assets during the pandemic has also pushed savers to favor investments in tangible assets, which has led, among other things, to the outflow of luxury cars and collector cars that are considered safe bets.

Customers also benefited from the reduction or even elimination of a major expense item, namely travel and leisure, given the draconian containment measures and mobility restrictions to contain the pandemic. Such a situation favored austerity for individuals who found themselves with substantial savings, and thus managed to gain access to a greater variety of vehicles and more luxurious goods in general.

What about Morocco?

Sales of new cars in Morocco amounted to 175,360 units for the year 2021, an increase of 5.7% compared to 2019. Performance that would have been significantly better, given the lack of electronic chips and the delay in the delivery of new vehicles to the dealer.

“Despite the increase in sales in 2021, the catch-up effect for 2020 remains limited,” explained Adil Bennani, president of the Association of Motor Vehicle Importers in Morocco (AIVAM), adding that the lack of semi-trailer drivers prevented the market from reaching its record high in 2021 ″.

On the Premium side, luxury brands gained ground in Morocco, in line with the global trend, with overall sales up 11% to 14,827 units. Audi is ranked first with 3,506 units sold in 2021 (+60%), ahead of BMW with 3,037 vehicles (+31%) and Mercedes (2,535 a decrease of 10%).

However, these results were weighed down by a lack of inventory, which resulted in delayed deliveries and a consequent loss of revenue for retailers who did not take full advantage of this improvement.

With MAP

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