Regardless of a world pandemic, it seems luxurious automobile gross sales rose in 2020. Extra truthfully, they exploded. Ferrari elevated its earnings, although shipments had been down a contact. BMW M adopted go well with, as did Bentley, with the British maker delivering 11,206 autos in 2020, the very best within the model’s 101-year historical past.

There are a number of causes for this, largely having to do with the Ok-shaped restoration you’ll have heard about. The wealthy bounced again after the financial disaster. The poor didn’t. The highest 20% have additionally discovered it straightforward to hold out their jobs from residence throughout coronavirus. And people on the backside of that prime 20% nonetheless acquired stimulus checks, to not point out the kid tax credit score within the Covid reduction invoice, which gave them further liquid money. The Federal Reserve slashed rates of interest too, which suggests individuals can refinance their mortgages, and shares have surged. Principally, the individuals with cash grew extra of it, and it was spent on luxurious items like automobiles.