Sales collapse of segment-leading Chevy Corvette leads segment to unexpected Q3 sales dropSales of Large Sports Cars and Exotics suffered an unexpected collapse in the third quarter of the year – after declining by around 5% in the first two quarters of the year they fell by 23% in the third quarter. Time will tell if this is a sign of tough times ahead, or possibly a temporary correction after two strong quarters. The lack of new metal won’t help – while the new Lexus LC is proving a big hit with buyers, many of the segment stalwarts are rapidly moving past their “sell by” date (Mercedes-Benz SL, Maserati GranTurismo).
Lexus LC enjoys a strong market debut to rank fourth in Q2’17 standings, while Porsche 911 continues to lose salesSales of Large Sports Cars and Exotics fell by 2.6% in the second quarter of 2017, a slower pace of decline than the 10.4% registered in 2016, or the 5.5% registered in the first quarter of the year. Could this be a sign that the segment is going through a bit of a resurgence? As we previously mentioned, this segment had undergone a huge growth in years past, so the recent declines come from a heady height, and suggest the segment may simply be stabilizing at a sort of “good times” average size, before once again shrinking drastically when the next recession hits (such is the fate of a segment where most cars sell for well over $100,000).
Sales of Large Sports Cars and Exotics fell by 5.5% in the first quarter of 2017, following a 10.4% decline in 2016. Total volume in this segment stood at 11,370 in Q1. And there’s not a lot of product news expected this year, so the decline is expected to last throughout the year. Then again, keep in mind the segment peaked at over 60,000 sales in 2015, when it almost doubled up in just 3 years time, so small declines after such an impressive growth curve are nothing to be ashamed of, especially on the lack of product news, as mentioned. We do welcome two newcomers to the segment compared to Q1 of last year, but both are still at the bottom of the ranking: the second generation Acura NSX and the all-new Ford GT.
Sales of Exotic cars have all but come to a halt in the last quarter of 2015. Sales were up 5% in the first half of the year, but then the fortunes changed: -13% in Q3 and a worrying -44% in Q4, leading to a full year total of 18,277 sales, down 16.6% on 2014. The pain in the last quarter is shared by all brands, but even for the full year there’s only one brand that shows volume growth, plus one limited edition sports car. Perhaps the slowdown is due to the fact that the two best selling brands in the exotic car segment are introducing their first SUV in 2016. [Read more…]
Sales in the Exotic segment fell by 13% in the third quarter of the year, on the surface a dramatic reversal of fortunes for a segment in which sales were up 5% in the first half of the year. However, upon clearer inspection this fall is driven mostly by a 17% drop in sales for the Maserati brand, whose models account for well over half of sales in the segment. [Read more…]
The Exotics segment grew by 5% compared to the first half of 2014, roughly in line with the whole industry. The problem with the headline figure is that it encompasses the whole of the Maserati brand, none of which are arguably exotic, but end up here because Maserati is the largest brand that does not break out their sales in the US.
So, excluding Maserati, the largest Exotic brand remains Bentley with over 1,200 sales in H1 2015 – even the 8% fall year-on-year was not bad for what is arguably a rather aged line-up by now. Still, it is reasonable to expect the sales figure to shoot up like crazy in a year or so when the Beluga… sorry, Bentayga goes on sale. For now, though, the brand was almost caught in sales terms by Ferrari, which is on course to go even better than its 2014 record of over 2,000 units sold in one year. The prancing horse is certainly doing better in the US than its main rival Lamborghini, who recorded less than half as many sales and lies in 5th despite a healthy 11% growth following the introduction of the Huracan. [Read more…]