With the world going through a pandemic, you would expect people to be staying at home instead of going out more often in order to stop the spread of the virus.
But not in Australia. On the contrary, luxury car sales are going up as much as 32 percent in the last month alone.
BMW has managed to sell over 3,307 cars last month, 32 percent more, while Audi's car sales have gone up a whopping 84 percent.
According to a dealer speaking with Car Advice which was noted by BMW Blog, people have more money to spend because of the lockdown. Because of its location on the globe, Australian residents usually have to travel two or three times a year to see their relatives when people should be staying home.
The recovery was also driven by tradies and small businesses buoyed by the Federal Government's $150,000 instant asset tax write-off.
Many mainstream dealers sell out of utes and vans even though the scheme was extended to the end of the year at the beginning of the month as noted by CarAdvice.au.
4-Wheelers Are Also Enjoying the Sales Spike
Pickup trucks are considered to be the number one vehicle choice in Australia as people plan to spend the holiday at home. It's not just luxury car manufacturers that are making money as well.
Australia's top-selling vehicle, the Toyota HiLux ute, posted an all-time monthly sales record - with 6537 deliveries its best result since June 2018, while the Ford Ranger was Australia's top-selling four-wheel-drive with sales gains for the Toyota Prado, Toyota LandCruiser and Nissan Patrol.
Official figures released today by the Federal Chamber of Automotive Industries showed a total of 110,234 were reported as sold in June 2020, a decline of only 6.4 per cent compared to the same month last year - and a stark contrast to the 35.3 per cent and 48.5 per cent declines in May and April respectively.
Sales of utes and vans surged by 8.6 per cent, and SUVs also outpaced the market (down by only 2.9 per cent versus the overall market decline of 6.4 per cent).
Another company that specializes in 4-wheelers reported that it managed to sell 604 vehicles making it the best monthly sales record ever since the company made its debut in 2015.
"We could have sold more but we can't build them fast enough, we're selling every one we can get our hands on," said Mr Crichton, the importer and distributer of Ram Trucks Australia. "We have cars coming every month (from the US) but it's difficult to get any additional allocation because Ram is also doing so well in the US."
Luxury Vehicles Sales Increase for South Korea
In a news report by ABS-CBN, Holger Germann CEO of Porsche Korea told Reuters that 2020 will be one of their strongest years stating a 46% increase in sales with almost 3,500 vehicles sold in just the first 5 months of 2020 compared to 4,285 vehicles in all of 2018, and 4,204 in 2019.
While the sales of BMW has also rose to the same percentage as the Porsche to selling almost 22,000 vehicles from in the same time frame.