Image: Rolls-Royce
As you know, being a car buyer is a tough time. New vehicles are hard to find and the ones you can find are in limited offer, overpriced, or both. This has made used cars hard to come by and their prices soaring. Not only for simple used cars, Bloomberg reports that even buyers of high-end cars like Rolls Royces and Bentley are turning to the used market.
With order books full for the next several months, Rolls-Royce buyers will have to turn to something I didn’t know existed: the company’s certified pre-owned program called origin. Don’t be surprised if you haven’t heard about it either. The company typically only sells a handful of CPO roles. Sales are now under way. From Bloomberg:
Members of the Rolls-Royce elite are deciding more than ever to buy vehicles from the company’s “Provenance” or very selective used range. “It used to be that one in three vehicles sold was Provenance,” said Gerry Spahn, Head of Communications for Rolls-Royce North America, during a lunch for reporters to showcase the new cars. “Now it’s closer to 75%.”
Screenshot: Rolls-Royce
This isn’t your run-of-the-mill CPO plan either, but includes things like a comprehensive multi-point inspection process, personalization options, and a two-year service package.
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Rolls-Royce is not alone, the entire high-end luxury used market is growing:
At Bentley, sales grew 150% from January to May. Certified used car sales at McLaren are up only 2% from the record year of 2020, but the prices these used supercars sell are higher than when they were new. “McLaren 765LT Coupes sell up to 40% above MSRP in the used market, which is breathtaking,” said Nic Brown, acting president of McLaren North America.
Some rich people like to save money, but many of them are impatient. When you buy this two-year-old phantom, you get your vehicle immediately. The Rolls Royce communications chief confirmed this to Bloomberg, saying that buying second-hand goods makes sense for many customers because “they have a stronger feeling of ‘I want this now’” ”.
