Ladies and gentlemen, start your super-luxury retail engines.
On July 31, Pfaff Automotive Partners announced the grand opening of McLaren Vancouver, making it the second McLaren dealership in Canada in a small but strong group of luxury auto dealerships in the Lower Mainland.
The McLaren was born in Britain in 1966 as a Formula One racecar, and in the early 1990s a road version was created. The “supercar” – a term often used to describe limited production vehicles from elite manufacturers – is in the same league as Ferrari and Lamborghini.
Pfaff Automotive Partners includes McLaren Vancouver and McLaren of Toronto. Chris Pfaff, Pfaff’s owner and president, said his group has sold 80 McLarens across Canada since the Toronto location opened two years ago. Between 10 and 15 were sold in B.C.
He added that the demand for super-luxury cars in Vancouver is strong.
McLaren Vancouver is not alone. Other super-luxury dealerships selling Lamborghinis, Maseratis, Ferraris and Rolls-Royces in the city include TAC Auto Gallery, London Motorcar, Ferrari Maserati of Vancouver, MCL Motor Cars and Simon Luxury Motorcar.
Rolls-Royce Motor Cars chose Vancouver for its official introduction of its new model, the Rolls-Royce Wraith, to Canada. The $294,000 luxury vehicle was unveiled at the Rocky Mountaineer Train Station August 28 and is now on sale at Rolls-Royce Motor Cars Vancouver
“We like our luxury vehicles in British Columbia,” said Blair Qualey, president and CEO of the New Car Dealers Association of BC.
He added that the sector is resilient: sales of expensive cars don’t slow down in response to dips in the economy as much as those of regular or mid-range cars would. Raymond Moradoghli is the director of SR Auto Group, whose biggest sellers are the Ferrari 458 and the Lamborghini Aventador.
He said that with McLaren set to release a new model – the $1.1 million P1 – early next year “ is going to damage a bit of the Lamborghini sales, especially the Aventador.”
Moradoghli added that not only has the luxury vehicle market been increasing over the past three to five years, the price customers are willing to pay is on the rise.
He said a $100,000 to $200,000 car used to be what was considered a luxury car.
“Now the $200,000 baseline isn’t the baseline; the $500,000 vehicle is the baseline.
“And the P1 is a $1.2 million to $1.3 million car, so as it progresses, the baseline is going to be a $750,000 car.”
In Vancouver, it’s not just cars that luxury status seekers have set their sights on.
David Ian Gray, founder and owner of retail consulting firm DIG360, said that Vancouver is “riding high on luxury” in all categories of goods but the market is finite.
“There’s a point where there’s only so much wealth that can be spent, be it on cars or on handbags or on jewelry.”
Gray, who added that the number of luxury retail dealers in Vancouver far exceeds domestic demand, said a growing wealth class of Asian immigrants, mostly from China, is driving much of the branded-luxury buying in the Vancouver market.
Vancouver developing a reputation as a home to high-end car aficionados
The fifth annual Luxury & Supercar Weekend, scheduled to take place at VanDusen Botanical Garden on September 7 and 8, will include Bugatti, Maserati, Lotus, Porsche and Ferrari dealers targeting brand-conscious drivers in B.C.
Founder Craig Stowe said carmakers see the event as an opportunity to launch their vehicles. For example, the super-rare $1.5 million Pagani is making its Canadian debut at the show.
“It’s never been seen in Canada,” he said. “It’s not even legal to drive on the road here yet, so it’s going to be unveiled at Luxury & Supercar Weekend, which is a huge coup.”
