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Luxury car brands are not really suffering from Covid in Belgium. And when registrations do not follow, there is more a problem of supply than demand.
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“Our customers come back to this idea of freedom and this desire to enjoy the present moment“, thus indicates Stéphane Sertang, CEO of the Ginion group, one of the three sellers of new Ferraris in the country. Sales of motorcycles and convertibles are doing very well at home, which reinforces the idea that customers want to to please.
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“On average, our Ferrari delivery times are 18 to 24 months, sometimes longer.”
Stéphane Sertang
CEO of the Ginion group
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Ferrari’s figures are however to be qualified. “On average, our Ferrari delivery times are 18 to 24 months, sometimes longer,” he says. The Ferraris delivered this year in Belgium have therefore been sold a little while ago.
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Depending on the luxury brands, however, the situation is very different, because Rolls Royce (5 registrations over 7 months, -78.26%) and McLaren (7 registrations, -53.3%) are not doing the best this year just reading these figures. We all know their limits, since wealthy customers of this type of vehicle do not always register them in the country where the purchase was signed.
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But it is also a question of offer, assures Stéphane Sertang. “We were already anticipating the fact that a good part of our figures should take place at the end of the year for these brands,” he explains. The Rolls Royce Ghost was indeed due out in April which would have given registrations at the end of the year. The Covid has been there and its launch has therefore been delayed. The deliveries will therefore be for next year.
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We must not forget either that the crisis has also been synonymous with opportunities for investors who had a sharp nose. “I think, even if I am not a specialist, that some people take their position and have fun“, points out Stéphane Sertang.
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In the network of luxury brands of the Volkswagen group, it is also an argument which circulates where one notes “a position of retirement on the stock market and clients who took their profits”.
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Because the luxury of VW also displays a good resistance. Porsche only reduced its registrations by just over 3%, which raised the brand’s market share to 0.55% over 7 months, or more than one in 200 registrations in Belgium this year.
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Taycan effect
The first one Electric Porsche, the Taycan, is one explanation for this form. 250 Taycan are already circulating on Belgian roads, all delivered this year. Even if the Taycan will be in the top of Porsche sales this year, “the Macan remains the vehicle that we sell the most, the 911 also works very well. The 911 Turbo and Targa were released during the Covid”, details Bernard Van Bellignen, PR Manager of Porsche, Lamborghini and Bentley in Belgium.
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The other brands of the group, such as Bentley (-12%) and Lamborghini (+ 50%) are also getting through the crisis well. “The Urus, Lamborghini’s SUV is still working very well. We had decided on a strategy where we were able to recover stock. We were able to meet customer demand,” explains Van Bellingen.
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Obviously, other prestige brands do not perform very well. This is for example the case of Lexus (–53.3%, 14 registrations) or Maserati (-45.16%, 68 registrations), but each time, it seems that the reason lies elsewhere than in market demand.
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The first Maserati hybrid, the Ghibli Hybrid, is expected and is supposed to initiate a new strategy for the brand.
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So for Maserati, it is clearly the end of a product cycle. The first Maserati hybrid, the Ghibli Hybrid, is expected and is supposed to initiate a new strategy for the brand.
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For now, prestige cars therefore seem insensitive to the Covid-19 crisis, but the question the sector is asking is whether it will last. “For the moment, it is impossible to know if this is a peak or if it will continue”, as such points out Bernard Van Bellingen.
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