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The priciest cars are selling fast

A driver returns to his red Ferrari parked on the pavement outside the Louis Vuitton store in Bond Street, on 12th August 2022, in London, England. After the Bank of England raised interest rates to 1.75%, there is a certainty that Britain will be in recession by the fourth quarter of 2022 and with inflation to climb further. (Photo by Richard Baker / In Pictures via Getty Images)

Pricey automobiles are impressive on paper and on the road. For their makers, they also often leave a good impression on the income statement. Global car sales in 2022, at around 79m vehicles, are below the level of a decade ago. Yet demand for fancier sets of wheels costing more than €100,000 ($107,000) grew by around 6.5% a year over the same period, according to Bernstein, a broker.

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