Supercar sales rise during cost-of-living crisis

I went on the Lamborghini website to see how much one would set me back. Of course, you can’t just buy a supercar. Prices aren’t listed on their website, but why would you need to see the cost if you’re the type of person who can afford one? You don’t need to care about the numbers decreasing in your bank account. And anyway, there’s plenty more where that came from…welcome to UK 2022.

The increase in supercar sales has been linked to those who have profited from crypto currencies. Currently, crypto is struggling, but during the last couple of years, some people became very wealthy practically overnight. Another reason may be that rich folk didn’t spend as much money in the pandemic as they usually would, so they’ve treated themselves to a brand-new Ferrari to make up for this. To finance the cost of a supercar is also attractive at the moment, given the low interest rates for borrowers. I’m not sure the same can be said about everyday cars bought on finance—some people have now found themselves in the position where they can no longer afford their finance repayments, due to the crisis.

I must admit, it’s rare that I see supercars as I go about my business—South Yorkshire isn’t exactly the most affluent area in the country. Most of these expensive polluters can be found in the City of Westminster. This isn’t exactly a surprise when you consider Mayfair, Knightsbridge and Belgravia are there. According to the Guardian, 553 supercars are registered to people in the City of Westminster, which makes it the UK’s supercar capital. Kensington and Chelsea are not far behind, with 507 supercar registrations.

In the top ten ‘supercar areas’, just two are outside the southeast. Birmingham has 175 supercars registered. East Cheshire is the only northern area. Again, this is no surprise—East Cheshire is home to plenty of wealthy villages that house Liverpool and Manchester football players.

So, whilst we struggle to heat our homes, whilst we spend small fortunes on basic food items, and as we choose between toiletries and chocolate, don’t forget that the rich are getting exponentially richer whilst you do so. That the sale of supercars has risen during the cost-of-living crisis shows me just one thing: this country isn’t bankrupt financially, only morally.