The increasingly large number of luxury cars returned to leasingcompanies and the broader supply available on the second-handmarket, coupled with the decline in demand for expensive cars, havegenerated a price decline by up to 210,000 euros in less than twoyears.
With campaigns promoting price cuts of up to 50% for new cars,there has been a significant drop in prices of second-hand luxurycars, sold either by leasing companies that have repossessed themfrom bad payers, or by companies specialising in second-handsales.
"At present all cars are cheaper, not only luxury cars, but alsocars in the lower-priced segment. It was only natural that weshould see lower prices for luxury models, as well. I saw cars atleasing companies as early as last year. It is true that now we aretalking about spectacular prices, even for luxury cars," saysMarius Carp, car market analyst and former manager within theAutomotive Manufacturers and Importers Association (APIA).
Whilst up until now luxury cars were even considered aninvestment because they did not depreciate very much in time, andeven increased in value right after the acquisition due to the upto two-year waiting period, their prices have now gone downsignificantly.
For instance, the price of a Maybach 62S, the most expensive inthe German manufacturer's range, has fallen by over 210,000 eurosin less than two years, even though the car has travelled no morethan 22,000 kilometres.
A Bentley Arnage T Mariner, manufactured in 2009, costs 82,000euros less than the 347,075-euro standard price. On the other hand,the models have not been "customised" by the client, but by aformer client or by the importer.
"This year the volume of repossessed cars has risenconsiderably. They also include luxury models, which leasingcompanies sold for much lower than the market price, in their driveto free up the cash as soon as possible. This strongly affected the'trade in system', under which clients sell their current car tothe dealer in order to acquire a new model," said Adrian Pascu,brand manager for Porsche, Bentley and Lamborghini within PorscheRomania, the largest car importer on the Romanian market.
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