2022 was bad for a lot of billionaires, who lost nearly $2 trillion all told.
But fear not, because they were buying luxury cars in even greater numbers, roaring in top gear past stock, crypto, and bond market crashes and up the slopes of soaring interest rates, energy and food hikes, and febrile economic conditions.
Yes, the ultra-wealthy are increasingly purchasing luxury vehicles. Rolls Royce announced that it had recorded its ‘highest ever annual sales’ in 2022, delivering 6,021 motor cars, up 8% from 2021.
‘This is the first time in the company’s 118-year history that its sales have exceeded 6,000 in a single 12-month period,’ the British luxury carmaker said.