Rolls-Royce Toronto has experienced an uptick in sales in recent years, a trend that is only gaining more momentum. Superluxury vehicles, ranging in price from $200,000 and up, are selling fast all over Canada.
“In 2009, I think we retailed one car, and we were the only dealer in Canada at the time,” Rolls-Royce Toronto brand manager Paul Gilbert told the Globe and Mail. Canada now boasts Rolls Royce dealerships in Vancouver, Montreal, and Calgary as well.
Rolls-Royce Toronto is one of seven businesses in the city’s Grand Touring Automobiles dealership. In 2017, customers bought 35 new Rolls Royces and 20 previously owned ones. These are significant numbers considering the popular Phantom sedan has a base price of $560,000, and some drivers ponied up more than $1 million when accounting for additional features. Fourteen customers have also ordered the Cullinan SUV, which starts at $456,000.
These luxury vehicles share their space with an even pricier competitor—the Bugatti Chiron, valued at $4 million. Grand Touring Automobiles showcases a range of luxury cars, including Lamborghini, Aston Martin, Rolls-Royce, Bentley, Jaguar Land Rover, and Bugatti.
Why are more and more Canadians shelling out such prices for these cars? According to Gilbert, it’s becoming more socially acceptable for people to show off their wealth.
Lamborghinis are also a popular choice for luxury-loving Canadians. In 2013, the brand sold about 50 cars in Canada. In 2017, that number rose to 211. The country is the fifth-largest market in the world for Lamborghini, the Globe and Mail reports.
“The Canadian market has grown 7 percent consistently the last three years, but the superluxury market has grown by 48 percent,” explained Paul Cummings, president and chief executive of Grand Touring Automobiles. “We [sold] 1,600 units between Jaguar, Land Rover and the superluxury brands last year, and it will grow again this year. In 2009, when we bought the store, the total was, I’m going to say, 329.”
The type of customers has changed over time. While it used to be largely businessman who would pay in cash, now the customer base also includes students from the University of Toronto, families who have moved to the country and locals who have benefited from a solid economy. More people are making monthly lease payments of $3,000 than ever before. Offering used cars benefits both the dealer and the customers.
In addition to higher demand, there is also more supply. Superluxury automakers are offering choices than ever—including SUVs, which can be driven all year long.
Grand Touring currently has 100 preorders for the Lamborghini Urus SUV, which retails for $232,000, and is the largest order in North America “by far.” From 2016 to 2017, Canadian sales of Porsche 911 models jumped 31 percent, particularly for the GT3 and GT2 models, which range in price from $163,000 to $334,000.