UK supercar numbers reach record high, with over half being Ferraris

The UK supercar economy is thriving, with Ferrari leading from the front.

Despite narrowly avoiding recession, the UK’s economy has slowed and stagnated since the end of 2024.

However, the UK’s elite vehicle economy is absolutely booming, with more supercars being sold than ever before.

So, we are here to analyse why.

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Supercar sweep: high-end economy in high supply

Some very interesting data has just been released that provides a fascinating picture.

The chartered accountant firm UHY Hacker Young – based in London – has released data which shows a remarkable increase in the amount of supercars on UK streets.

The accountancy firm have reported a four percent increase on the amount of high-end cars in the UK, up to 23,320.

This is an increase from 22,420 in the fiscal year of 2022/23.

What makes this even more interesting is one name – Ferrari.

The legendary Italian brand currently have 14,714 of their cars on the road, which is over half the overall number of supercars in the UK.

However, the fastest growing brand are Ferrari’s Italian rivals – Lamborghini.

The Bologna Bulls have seen an eight percent increase in car presence in the UK, up to 5,423 cars by the end of 2023/24.

What is driving this record growth?

In truth, this high-end car growth should be trending in the opposite direction.

Firstly, the current Labour government has long-held plans to scrap the non-dom tax regime.

Henley and Partners, a London-based residency and investment advisory firm, noted that the UK lost nearly 9,500 millionaires as a result of this.

Among other things, including higher taxes for wealthier people, higher interest rates should have dented supercar purchases.

Brian Carey, a partner in UHY Hacker Young, explained that most of these high-end vehicles are bought using finance, and higher interest rates directly affect the cost of borrowing through finance.

However, he also explained the reasoning for the increase in growth of supercar presence in the UK.

He said: “Higher taxes for wealthy people might lead to supercar sales peaking.

“However, the UK has such a good track record in creating wealth and in attracting high-net-worth individuals that we wouldn’t be surprised if sales growth resists these headwinds.”

“Supercars are now seen as an alternative asset class amongst the ultra-high-net-worths.

“The expectation is that their rarity value will push their prices up as opposed to suffering rapid depreciation like a normal luxury car.”