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).
After a slight decrease in the second quarter of 2017,sales of exotic cars in Europe have returned to double digit growth with a 10% increase in the third quarter. As a result, the year-to-date figure is still up 16% to just over 5.500 units. The all-new Aston Martin DB11 has already lost the segment lead it took in the first quarter, as it was down into third place in both Q2 and Q3. The best seller in the third quarter was the former segment leader Bentley Continental GT, even though the next generation of that model has already been revealed and will hit showrooms in 2018. The current generation lost 13% of its volume in the third quarter. The Ferrari 488 was up 13% in Q3 and holds on to its top spot for now, but it will be a tight race with the Continental GT if the latter keeps up its momentum. If the Bentley manages to top the ranking again this year, it would mark the 6th consecutive year the model will do so. For the 488 it would be the first time in its career. Its predecessor 458 Italia never took the title, as the last time a Ferrari was the best selling exotic car in Europe was in 2009, the last year of the F430. The only other model to sell over 150 units in Q3 is the Lamborghini Huracan, up 8% on last year.
After a booming first quarter of 2017, sales of exotic cars in Europe have stabilized with a 2% decrease in the second quarter. First half sales are still up, but by “only” 18%, to 3.951 units. We already had a new segment leader in Q1 with the all-new Aston Martin DB11, but in Q2 we crown yet another new leader, as the Ferrari 488 has topped the charts for the first time in its career. Ever since it replaced the former segment leader Ferrari 458 Italia, the Bentley Continental GT had topped the charts. Until this year, that is. After a stable Q1, the Continental loses 23% of its volume in Q2, which leads to an 11% loss year-to-date. The next generation will be revealed at the Frankfurt Auto Show in a few weeks time and will arrive in Bentley showrooms next year. The DB11 slows down slightly in the second quarter and was even outsold by the Continental GT in Q2 (by just 6 sales), but is expected to rebound later this year when deliveries of the AMG V8 twin turbo engine pick up steam. The only other model in the segment to sell more than 100 units per quarter is the Lamborghini Huracan in fourth place with a 12% increase in the first half.
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 exotic cars in Europe have exploded in the first quarter of 2017, with a growth of 45% to over 2.100 units. And after years of domination by the Bentley Continental GT and Ferrari 458 Italia, we have a new segment leader, straight out of the box. With almost a quarter of total segment sales, the all-new Aston Martin DB11 has stormed to the top of the ranking, ahead of the Ferrari 488 which maintains its second place thanks to a sales growth of 35%, while the former segment leader Continental GT is kicked down to third place with stable sales. Never before has an Aston Martin topped the exotic car segment in Europe, but the DB11 is an obvious hit with affluent buyers. It has turned the two-horse race at the top of the ranking into a three-way, as the top-3 dominates the segment with 68,3% of total sales as the #3 sells more than triple the volume of its closest rival.
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.
The exotic car segment in Europe grew at double the overall market growth in 2016, at +12%, helped by a handful of new products. But the leader of the segment remains unchanged, even though the Bentley Continental GT gains just 5% and therefore loses 2 percentage point of share. In Q4, the Continental GT was even down a worrying 11,5%. The Ferrari 488 continues where its predecessor 458 Italia left off: in 2nd spot, ahead of chief rival Lamborghini Huracan, which also gains just 5%, but had a more positive Q4 at +64%. The Ferrari F12, about to be replaced by the 812 Superfast in 2017, almost doubles its sales in the fourth quarter to finish the year with a 31% gain. 2016 has been a great year for Italian V12 supercars, because Lamborghini Aventador does even better at +135% in the fourth quarter and +48% for the year.
Sales in the Sports Large and Exotics segment fell by 10.4 percent in 2016 to 54,994, about a third lower than they were a decade ago. The segment’s prospects for 2017 are rather bleak: not only right now it seems that there will be no big new debuts in this segment in the coming year, the early indication is that customers are not very keen on the new, turbocharged iteration of one of the mainstays of the segment: Porsche 911.
Note: going forward, the segments Sports Large and Exotics have been merged, partly to align the US reporting with that for Europe, and partly because data for the old Exotic segment became very thin ever since sales estimates for the truly exotic brands (Aston Martin, Ferrari, Lamborghini) became unavailable.
Sales of exotic cars in Europe grow at double the overall market in the first three quarters of 2016 with an increase of 15% to 4.773 units, compared to +7,5% of the rest of the market. More than half of those sales are for just two models: the Bentley Continental GT / GTC and the new Ferrari 488. The Ferrari was the segment leader in Q2 but the Bentley outsold it in Q1 and Q3. That means the British coupe and convertible is likely to celebrate its 5th consecutive year as the best selling exotic car in Europe, with either the 488 or its predecessor Ferrari 458 Italia not far behind for most of that time. The Lamborghini Huracan consolidates its third place thanks to the arrival of the Spider version. The Rolls Royce Dawn was the #4 of the segment in Q3 and moves to 7th place year-to-date with a good shot at moving up one more place by year end, trumping the Aston Martin DB9, which is being replaced by the al-new DB11.
Sales in the Large Sports segment kept level in the third quarter of 2016, which combined in the saled declines in the first two quarters resulted in a 13 percent fall in sales so far this year, making it the worst performing from among the Sports segments.