Luxury car sales hit record highs

The number of luxury cars sold in Australia hit record highs last year as the number of passenger and light commercial vehicle sales declined, according to CommSec's analysis of national sales data.

The CommSec Luxury Car Index posted record sales of 78,676 vehicles in 2014, up 12.1 per cent on the previous year.

The index comprises Audi, Aston Martin, BMW, Bentley, Ferrari, Jaguar, Lamborghini, Lexus, Lotus, Maserati, Maybach, Mercedes-Benz, Morgan, McLaren, Porsche and Rolls Royce.

As luxury car sales rose, passenger vehicle sales dropped 6.1 per cent, along with light commercial vehicles which fell 3.2 per cent.

Maserati and Rolls-Royce were the biggest movers on the list; up 199 per cent and 144 per cent to 401 and 39 cars sold respectively, while Lamborghini sales fell 43 per cent to 27 sales.

Rolls-Royce last year partnered with Barbagallo Motors to open its first showroom in Western Australia.

Overall, luxury cars accounted for a record 8.9 per cent of total passenger car and SUV sales in 2014, according to CommSec.

“The record number of car sales suggests that underlying consumer sentiment and income levels are healthy,” CommSec chief economist Craig James said.

It follows news yesterday that 1.1 million new vehicles were sold nation-wide during 2014, down 2 per cent from the 1.13 million sold in 2013.

WA accounted for 115,343 of new car sales during the year, down 8.1 per cent.