Porsche consumers have been asking the company, in roundabout ways, for more sportier options, and Porsche may have finally delivered. The company announced this morning that a new model line would be joining the Porsche family, making it the seventh model line to be part of the company. Porsche hasn’t said much about the new line of cars, though it is known that the seventh line of Porsche offerings will go head-to-head with what Ferrari currently offers.

Good Year for Luxury Cars

Porsche, in addition to BMW, Audi, Daimler Mercedes-Benz, and Bentley (Bentley and Audi being part of the same VW group that Porsche belongs to, though the brands did well individually), all reported an increase in sales last year. Porsche expects to sell a surplus of 200,000 vehicles this year, and the new addition to the Porsche lineup is likely to be counted among those increasing sales.

The new sports car would fit somewhere between the 911 ($151,000) and the 918 ($845,000). There was some previous speculation that Porsche may simply expand the Panamera line, but it looks more like the company will create an entirely new line now. The company may also be working a different car to directly rival what Tesla has been putting.

A New Battery Powered Porsche?

In addition to the new sports car, Porsche may also be working on a battery-powered option, but that’s speculative for now. While Porsche has told press that the new car will appear in 2020, the company hasn’t decided (or hasn’t made public) the shape that the car will take. It wouldn’t be surprising that Porsche will attempt to compete with Tesla’s clean vehicles, which are both luxury and selling surprisingly well.

Why the Recent Rise in Luxury Car Sales?

Luxury car makers have seen a good increase in sales over the past year in both China and the US. Why is this happening? While it’s easy to speculate that rising luxury car sales means that the economy is improving greatly, this isn’t the right conclusion to jump to. According to a recent Associated Press story, there are simply more billionaires on the planet than there have ever been before. AP notes that there are around 219 more billionaires now than existed just one year ago. Countries like China have seen a quick rise in billionaires, and these consumers are purchasing luxury vehicles.

The other reason for the increase in sales is that some luxury car companies have been making lower-end models that are more appropriate. Many luxury car makers now offer $30,000 options, and this is affordable for many consumers looking for a luxury brand without that high price tag. With luxury cars being more in reach than ever before, consumers are looking for cars that are both reliable and affordable, but carry that luxury brand mark. Porsche, however, doesn’t yet offer a model that’s under the $30,000 range, so you’ll still have to shell out some cash if you want a Porsche. Presumably, the newest Porsche models won’t be on the lower end of the price tag either, but stay tuned for more information about the company’s latest offerings.

Are Luxury Cars Worth It?

Are consumers driven by the need to show off a luxury brand, or is there some merit to purchasing a luxury car? Most luxury cars are simply built better, and that can mean that they are more reliable. But with a luxury mark comes the price of repairing that car, and keeping that car maintained. While it may cost more to keep a Mercedes or BMW in good working order, if you do maintain these cars properly, they will last a long time. The key is to make sure to bring your luxury car to a Fort Collins auto repair shop that has a solid reputation and a know-how for fixing luxury cars.

When it comes to car repair in Fort Collins, Fort Collins Foreign Car Service is 100 percent reliable, and our main focus is on foreign and luxury cars, so you can feel great about leaving your vehicle with us. To make an appointment for car service in Fort Collins, call us today to book your appointment. We’ll make sure that your car is treated the right way!