The financial conflagration which started in the US has spread around the world. Bloomberg tells us that in the UK “despite an easing in prices at the gas pump, sales of new cars in September tumbled, falling 21.2% from the same month a year ago. That was even worse than August, when sales were down 18.6%.” Porsches are apparently the SUV’s twin sister over there with a 33.3% sales plunge. But apparently the UK‘s art market is strong: “Stuart McCullough, board member for sales and marketing at Bentley said in an interview last week that some customers were putting off delivery because they didn’t want to make such a lavish and visible purchase when many consumers faced tougher times. ‘We are seeing buyers not taking delivery of our cars, but continuing to invest in the art market’, he said.” You do have to wonder how Sir Stuart knows this. Do his customers invite him into their homes for private showings of their art? Perhaps he will find a still hot selling Smart Car mounted on a pedestal as an object d’ art.
Sir Stuart knows this because he is in touch with his customers. Unlike the Detroit 3, he considers that part of his job.
He probably pays attention to the art auction market, which is presumably still going strong.
This global economic shitkicking is definitely not what GM or Ford need right now.
The UK art market instead of cars my ass.
Have a look at this.
“Would sir like to take delivery of his new Bently now?”
“Umm – no thanks, I’m reconsidering my order.”
“Is sir suffering financial stress?”
“No, not at all, I’m just putting off delivery because I don’t want to make such a lavish and visible purchase when many consumers (but not me) face tougher times. I’m going to purchase some art instead where I can enjoy my continuing wealth in the privacy of my own (palatial) home.” [Pants on fire]