If you also watched every episode of “Pimp My Ride” in the early 2000s, then you know that the pinnacle of cool was wrapping your car in metallic flames and sticking a hot tub in the trunk.
While some of us never accomplished that dream (rolls eyes), it seems others are finally making it happen — kinda.
Around 400k people in the world have ~$30m in potential spending, a group that’s expected to grow to 528k by 2028, per CNN.
And carmakers have been busy manufacturing luxury rides to tempt those big spenders:
- Ferrari’s revenue rose 17% to $6.46B in 2023, and the company’s stock hit a 52-week high on Feb. 1.
- Lamborghini sold 10k+ vehicles last year, a first for the company.
- Rolls-Royce had its best sales year ever in 2023, delivering 6k+ cars.
With cars so expensive, upscale automakers can turn a profit selling far fewer than the average car brand. And the sales might just keep coming — the global luxury car market is estimated to reach $1.2T by 2032.
Personalize my ride
While a regular old Bugatti will set you back $3m+, off-the-lot luxury cars aren’t enough for some customers.
Other luxury car brands have also seen an uptick in demand for hyperpersonalized rides:
- Three-quarters of Bentley’s customers requested custom options in 2023, up 43% YoY. Bespoke additions can add ~$75k to the price of a car.
- Rolls-Royce Bespoke offers customizations on everything from embroidery to paint colors, while its invitation-only Coachbuild program builds about one car every two years from scratch, costing ~$25m each.
At Porsche, customers can choose from 160+ paint colors or, if that’s not good enough, have their own bespoke color mixed for an additional $25k+.
So, if you’re sitting on a couple million you don’t know what to do with, start here for inspiration.