As most of us struggle with surging gas prices, food costs and the possibility of losing our jobs, it's good to know that one little niche of people are oblivious to the current economic environment, and continue on with business as usual.
Sales of Fiat's Maserati brand are up 16% this year, as the rich continue to buy the $115,000 car. Add on that the Maserati gets a whopping 13 miles per gallon in the city and 19 on the highway.
Maserati's are being sought after by buyers wanting something better than your typical Mercedes-Benz, yet more affordable than Italian competitors Ferrari and Lamborghini. Nice to know that even these buyers are impacted by sticker shock!
According to an article in Bloomberg, Wes Brown who is an automotive analyst commented: "If you've got money, you want people to know you've got money, and people want to find something that not everybody has,'' Brown said. "They are saying, `I don't want a BMW or Mercedes, which you can see on every corner.'"
We all know that problem! Who can afford to buy a Maserati? The company says that the typical buyer is a 54-year-old male with household income of $750,000.
For those of you who decided to leave your car at home and take the bus in order to save a couple of bucks, you'll be glad to know that by freeing up the road, that new Maserati owner will have less traffic to deal with and be able to take the car up to its top speed of 177 miles her hour.
Who cares if gas is over $4 a gallon?
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 7/10/08.











Reader Comments (Page 1 of 1)
7-10-2008 @ 5:05PM
william lindblad said...
Aaron, there will always be people who can afford a "statement" vehicle. Maserati has been around for a long time, but they make limited production vehicles to a small market share. Therefore, whats the big deal? They have a lot of company. Both Benz and BMW have comparable high end, limited models. David Brown's Aston Martin can be had for another 60 g's or so and there are many other small semi customs that range from luxury to sports. These same people engage in buying classics like Facel Vega, Dual Ghia and Cunninghams. Ask Jay Leno - he try's for one of everything.