Ferrari creates cool pop-up paradise for owners - CNBC
— The goal in the car business is to follow the money, and cashing in lately has meant chasing the the high end of the market — luxury cars all the way up to exotics and so-called supercars. The dip in China's stock market and continuing trouble in Russian are causing automakers to reevaluate, putting their hopes again on the U. S. and a recovering Europe, markets that before seemed so humdrum. That brought a bevy of them to greater Monterey, to one of California's richest enclaves over the weekend, where they could appeal directly to potential buyers turning out for a week of car events culminating Sunday with the Pebble Beach Concours... Whether it was a chance to test drive a Tesla Model S or kick the tires of Acura's new NSX super sports car, automakers pulled out the stops to try to make a case on why their brand is worth the extra money. Not only do luxury vehicles have far thicker profit margins, executives say the growth rate for luxury in a booming U. S. economy has been running at about twice the 3. 9% rate overall that Autodata reports for cars and trucks overall in the first... But as good as times are with fundamentals that point to continued growth in luxury, "there will be blips along the way," says Steve Cannon, CEO for Mercedes-Benz in the U. S. Fleet of Ferraris lead $415 million car auctions. For the moment, China is one of those blips where automakers are being forced to hedge their bets on what had been the world's most robust auto market. Source: www.cnbc.com
