The prior entry about the Luxury Market forecast for 2008 seems to have generated some interest. Here are some follow up factoids:
- Netjets is increasing its order of Gulfstreams by >35%. Says Corporate execs, especially in Europe, are flying private more.
- Toyota is introducing an $85K version of its big SUV. it is forecasting 100% increase in sales over the previous, lower priced model.
- Ford is launching a Platinum version of its F-150 with prices starting about $60K. Sales of the standard F-150 are flat.
At the same time, the domestic auto industry is forecasting an overall decrease in sales (units and dollars) compared to 2007. Not a single commerical air carrier is forecasting growth in the 30% range.
These points illustrate the bifurcation most likely to occur in spending at least in the first half of the year. The very affluent/wealthy will continue as if nothing (except sales) is occuring. The aspirational affluent will hold off until the coast is clear.
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