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Those cars are more expensive to purchase in China/Saudi Arabia/Qatar/etc then they are to purchase in the USA/Canada/etc and import later. Additionally, exotic
by THE_PUN_STOPS 9y ago
Those cars are more expensive to purchase in China/Saudi Arabia/Qatar/etc then they are to purchase in the USA/Canada/etc and import later. Additionally, exotic cars tend to hold value well and are easy to sell for liquid assets.
Thus, for wealthy international families sending a student to North America, this is a two-birds-one-stone situation. The child gets a nice way to get around and the parents get a discount on their nice car when they bring it back. The car even doubles as a reasonably stable way to stash cash abroad in a stable asset.
- seanmcdirmid 9y agoThey can’t actually import them into china, it is ridiculously expensive to get a car last customs. My old boss tried to get his Hummer imported into china from the USA and could never even get it approved.
- InitialLastName 9y agoThis might just be my bias, but I wouldn't necessarily call a high-performance luxury car being driven by an under-occupied 19-year old a "stable asset".
- xyzzyz 9y agoA "stable asset" is a last thing I'd call a new exotic car. They lose value super fast, as they are quintessential Veblen goods.