News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Hennes Paynter Communications

Don Drumm Studios

Meaden & Moore


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Northeast Ohio car sale increases include brands costing $100,000 and more
Aston Martins, Maseratis and other big money cars are rolling off lots
by WKSU's KEVIN NIEDERMIER


Reporter
Kevin Niedermier
 
Some of the $4 million inventory at Collection Motorsports in North Olmsted. The Aston Martins, Lotuses and Maseratis are selling very well.
Courtesy of Kevin Niedermier
Download (WKSU Only)
In The Region:

Car sales are up in Northeast Ohio, and that includes models costing well over $100,000. Maserati’s, Aston Martins, Porsches and electric Fiskers are rolling off the lots of the area’s high-end dealerships.

Click to listen

Other options:
Windows Media / MP3 Download (5:29)


(Click image for larger view.)

Collection Motorsports general manager Mark Thomas is hopping into a 430 horsepower Aston Martin convertible in the North Olmsted dealership’s showroom. This is a $180,000 V-8 Vantage S, and it’s in the middle range of the Aston Martin line which includes models at this dealership costing more than $300,000 apiece. Thomas estimates the 2 dozen Astons, Maseratis, Lotus’ and Fiskers in the showroom and on the lot outside are probably worth about $4 million, and, people are buying.  Collection Motorsports just added Aston Martin to its’ line-up 6 months ago, and in 2 of those months Thomas says they’ve had the highest sales in North and South America.

“For Aston Martin we project selling 1 to 2 cars a month, and we’re hitting and topping that. For example last month when we were the number one dealer in the Americas, we sold 9 cars. But we’re been fairly consistent of selling at least a few cars a month, and it’s always a good sign to a have at least some traffic. It’s a hard market to judge, whether it’s in Cleveland or whatever part of the country it’s in.”

“Who’s buying these cars?”

Most high end car buyers are rewarding themselves doing well in business

“It’s a diverse group of people, mostly business entrepreneurs, people who reward themselves for an accomplishment or plateau in their life. We have someone looking at an Aston Martin to mark his 30th birthday because he’s been able to do well in business. People sell stocks or their business and reward themselves.”

And Northeast Ohioans are rewarding themselves with $110,000 to $160,000 Maseratis. Thomas says they’ve sold 18 since the dealership started carrying them 5 months ago.  And since last December, he says they’ve sold nearly 50 of the $100,000 plus all electric Fisker sports cars. So what makes a car worth that much money? Thomas uses an Aston Martin to demonstrate.

Exclusivity and high quality sell ultra expensive cars

“Obviously it’s hand built. One guy builds the engine and puts his name on it. The car is hand inspected and that guy puts his name on a plate on the car. It’s hand assembled in Gateon England. It’s the highest quality leather. One person stitches the car so the consistency of their eyesight is throughout the car. It’s not like you would stitch the seats and I did the dashboard, all the seams look the same. It’s part of that personalized essence of the car. There’s an extensive process for painting the car. There’s a heavy coating and then an extensive hand inspection process.”

Thomas says with Aston Martin sales, it helps that the car has been featured in the James Bond movies as 007’s ride. The Greater Cleveland Automobile Dealer’s Association says overall car sales in the 21 counties it cover were up about four-percent last month over the same time last year. The association’s president, Lou Vitantonio says a big chunk of the increase came at Honda, Toyota and Nissan dealerships where a lot of cars in the $20,000 range were sold. He credits to pent-up demand for much of those sales, and says the same is true for the next level of car that costs between $40,000 and $70,000.

There’s pent-up demand for cars at all price levels

 “When we come down to a Lexus, Cadillac, Audi or BMW, those brands are doing very well. They have some unique products coming out that people have waited for, especially as the economy improves. And people drive those cars everyday. And then there’s another segment of the $100,000 and beyond vehicles, what they call exotics, low production run vehicles that are also selling pretty well.”

“What are the sales numbers for those higher end cars?”

“We don’t have specifics for sales from year to year because they’re such a small segment of the market, but the dealers say they’re selling very, very well at those high prices.”

Regardless of the price range, Vitantonio expects overall car sales in Northeast Ohio to continue growing in the next 2 years, but probably not at the pace as this year or last year.


Related Links & Resources
Greater Cleveland Auto Dealers Association

Collection Motorsports in North Olmsted

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Farm-to-School: Cafeteria lunch is fresh and local at Tallmadge High School
Great job Tallmadge City Schools! So glad to have a progressive business manager and superintendant!

World premiere at Cleveland Institute of Music is fanfare for a new theme
J'ai une grande admiration pour Daniil Trifonov que j'ai vu en concert deux fois à Paris je ne lui trouve pas d'égal c'est un ange tombe du ciel

Kent's journalism school faculty protest presidential search secrecy
There really was too much secrecy behind the selection process. Hopefully the letter by the faculty members will convince the board to provide more information ...

Belgian cargo ship creates new export route between Antwerp and NEO
The vessel is registered in Amsterdam, The Netherlands. Not in Belgium ;)

Exploradio: Tracking Ohio's champion trees
Absolutely loved this story. We lost 3 of our larger ash trees last year due to EAB. Big, beautiful trees are something to be treasured, and many times they tru...

Ohio's rules on fracking and earthquakes are a first
I'm right in the middle of the issue. Like oil independence, but hope there is pre- and current-drilling assurance re dangers from pollution, earthquakes and th...

Bridgestone exec indictments are latest step in a billion-dollar price-fixing case
Why is O.P.E.C Not investigated and charges brought against it and it's member companies? It sounds exactly the same...

Ohio's new drilling rules rely on known earthquake faults
requiring drillers to place seismic monitors when they drill within 3 miles of known fault lines. This comment really upsets me!! What good does an instrument t...

Kasich's gubernatorial ad focuses on his blue-collar roots
John Kasich is the biggest con-man in America. He will say one thing and then do the opposite. He is terribly successful at fooling the public and he is worki...

Cab drivers who refuse to drive Gay Games taxis will be replaced
the irony is that most americans distrust or hate muslims much more than they hate gays!! silly ignorant bigots-GO HOME!!!

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University