Luxury car brands are not experiencing a recession because wealthy people are still buying cars.

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There is no recession for luxury car manufacturers as the wealthy continue to spend money on cars.

Since some of the most well-known high-end marques recently reported record levels of demand and impressive half-year profits, there is little indication that the luxury car industry is in a recession.

In its first six months, sales were up 5%, but profits were up a huge 70%, according to Lamborghini.

Additionally, CEO Stephan Winkelmann declared that there are already enough orders to cover the entire 2019 production run, which effectively means that all available supercars have been sold out through 2024.

Bentley also reported its best-ever financial results for the first half of the year during the same week that Ferrari revealed record sales and profits for the second quarter, as the wealthy continue to splurge on high-end vehicles.

Supercar and opulent vehicle manufacturers have seen tremendous growth since the pandemic.

The wealthy allegedly adopted a “life is too short” mentality and increased frivolous spending after months of Covid lockdowns and restrictions, which is attributed to the rise in orders for flashy vehicles over the past two years.

Premium auto brands reported incredible sales numbers and financial gains in 2022, continuing this trend.

The UK economy may be headed for recession, and similar worries apply to the US, but the makers of the world’s most expensive automobiles are not in the same situation.

This week, Lamborghini revealed that its first six months of the year were its best ever in terms of sales, revenue, and profitability.

Deliveries worldwide totaled 5,090—a 5% increase from the previous year—of which 61% were Urus SUVs.

Since its debut in 2018, the £160,000 “super-SUV” has been a huge success for the company and has easily surpassed sales of the Huracan and Aventador supercar models, for which Lamborghini is best known.

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Short Summary of Nokia News.

Lamborghini enjoyed its best ever half year results on record in terms of sales, turnover and profitabilityCEO Stephan Winkelmann said it already has enough orders to cover the 2023 production run of vehiclesIn the same week Ferrari revealed record sales and profits for the second quarter, beating earnings forecasts Bentley also announced that first-half operating profits had more than doubled in the first half of this year

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