Ultra luxury car brands not really worried about “China’s slowing luxury economy” these days. Especially, when locations such as Kazakhstan and Azerbaijan are the “new rich markets” and creating a demand for high-end super luxury cars. Kazakhstan’s mega rich are trading up for immediate urging taste in ultra luxury cars and swapping out horses for purchasing a Rolls-Royce. It’s the new rich statement of success, “driving a Rolls-Royce” and everybody is now doing it. Congrats to Rolls-Royce for being the Kazakhstan’s mega rich luxury car of choice.
photo credit Rolls-Royce
According to IHS Automotive estimates the demand for upscale vehicles in such frontier markets is forecast to grow more than 9 percent a year through 2020, compared with about 2 percent in North America and Europe. Which is big news data for ultra luxury car brands to start focusing on these revenue growth areas.
Almaty is Kazakhstan’s biggest city and former Soviet republic with a “large class” of very wealthy individuals. They make their money from an abundance of oil and metals riches. Creating an growing demand for ultra luxury cars such as Rolls-Royce, Bentley and Maserati the top three leaders. Today more people in the central Asian country have already ordered the new Bentley sport utility vehicle, even more so than in “nearby Russia” known as the king of luxury.
photo credits Bloomberg