Luxury cars are good at burning rubber as well as burning a hole through your wallet.
Ultra-luxury car prices have hit a roadblock.
I’m talking about average prices of Aston Martin, Lamborghini and Rolls-Royce used cars in particular.
There’s been a sharp decline in average prices of all three.
Take it from data analytics firm Thinknum.
Researchers crunched the numbers from more than 130 auto retailers on behalf of USA Today.
Let’s be clear though, you still need to be rich to afford one.
But as of June 6th, Thinknum reports average list prices of used Aston Martin vehicles fell 54% from their 2018 peak to $103,000.
Lamborghini had a slightly bigger fall, as average list prices of used vehicles declined 56% to $207,000.
Finally, average list prices of used Rolls-Royce vehicles fell 48% to $198,000.
But, not every car took a hit.
USA Today reports even though it has a starting price of about $332,000, the Rolls-Royce Black badge Wraith is doing just fine.
Not quite ultra-luxury, but Auto Week reports that volume fell 15% at Jaguar in May of 2019.
Why did these companies have to hit the brakes?
Because it’s full steam ahead in the ultra-luxury market game and high-end carmakers have been pumping out new models left and right; driving prices down and making the exclusivity factor go out the window.
The market’s too crowded, and to get to the finish line, the new cars need all of the bells and whistles people want.