I assume they did so only after the at-fault driver's insurance was maxed out?
You know what's much more of a negligent behavior? burning a red light. And you know what's even more valuable than a supercar? A human life.
On the other hand, I have an old American car and all the major parts for it --- powertrain, suspension, brakes, etc. --- are still cheap and widely available, even after nearly 5 decades. It's very serviceable and relatively simple, yet still quite comfortable and pleasing to drive; and despite the powerful engine, probably still has better fuel economy than these supercars.
I can assure you this applies to even cheaper budget brands like Fiat or Hyundai. Competition between budget brands is a race to the bottom so dealers sell them with very low margins, making most of their money on service costs. But you don't know or expect that when you're buying your budget car, you just look at the sticker price.
On my older Fiat I could easily replace the filters myself in less than a minute by undoing some clips. Not on the new models where they use a weird bolt that none of my wrenches work. But guess what, the dealer has the wrench set that works. Funny, huh?
Same applies for apple products only that supercars aren't filling the landfills like tech products are. Supercars are like a swiss watch, they'll always be repaired even when completely damaged, never thrown away.
Also, there are diminishing returns to having a high net worth, i.e. every successive 2x increment matters less. No surprise there are goods on the market that are trying to counter this effect.
And I'm not even sure all of this is "evil". Italy wouldn't look anywhere near this nice if the rich people of the past hadn't splurged big on status symbols. Even in the United States where philanthropy is included in the portfolio of status symbols (or perhaps is even the major status symbol) you can see the positive effects. What Rockefeller did with much of his money was good and useful.
Front line valet placement in LA/NYC/Miami. When everyone has $500k cars, you need to go higher if you want them to keep your car out front. It’s a status thing.
$1.5MM in conspicuous consumption. The ability to burn through cash for no practical benefit is how much of our society signals success.
I'm not saying you should somehow suppress it if a $3M car makes you sick to your stomach, like you saw someone punching an orphan. It just seems arbitrary and crazy and I have a creeping horror that more and more people are like this.
Do you think that if someone enjoyed reading about the pyramids, was fascinated with them, and said "yes, I would build a pyramid like a pharoah if I could", that they ought to be sanctioned, punished, or shunned?
Anthony Bourdain has a whole chapter about the $800-meal phenomenon in NYC in Medium Raw, and, long story short, those people are getting rolled.
Someone could steal my bonds. They can't steal the roof of my car.
I guess this clause is null and void in USA?
Still faster than some Tesla owners have had to wait for their cars to get fixed. Lengthy and complicated repairs aren't limited to $3M cars.
2. Get your claim money
3. Premium goes up
4. Buy another one
To much of non-first world countries, buying an iPhone Pro Max would evoke the same question. That amount of money symbolises food for a long period of time.
Unfortunately your context shifts out a lot. It becomes normalised to buy an iPhone. It becomes normalised to pay a lot of money to buy a house, and if you're lucky enough to build wealth the normality bar just keeps being raised.
And then, poof, you just bought a supercar. Or a Patek Philippe. Or whatever other expensive thing that has no real purpose beyond it's a thing that you like.
I feel the same way with private jets. But a private jet was a completely trivial sum of money for me, maybe I would. Hard to say.
You know, for when one's in the shop.
A Bugatti needs a nice garage and an occasional mechanic, long term costs much less to operate or even just own than a jet.
Hell, it would be enough to buy an F5 supersonic trainer and gun it for a few hundred hours over the ocean
Bizjet? No ta. I could have a lot of fun with a Folland Gnat, Hawker Hunter or L39 Albatross though. My environmental efforts would take a bit of a hit. :)
The difference between getting an iPhone 11 Pro Max and a $3m car is that the former can be objectively beneficial, if you're someone who uses their phone for business all day long, even a 5% improvement in how efficient you are has significant impact on how much money you make.
A super car, especially in the city, has zero benefits, and if anything it's the opposite in some cases. The only use is showing off and making yourself feel good about it. A jet on the other hand can have significant advantages and as in the iPhone example, really increase your efficiency.
Do you never buy anything for visual, tactile, or other aesthetics? Or is that what you mean by "making yourself feel good about it"?
I don't think modern Bugattis are attractive. But that's a personal opinion, like what art you like. Nothing to do with "status" or other peoples' opinions.
Regulation is definitely heavier than cars — nobody makes you file a flight plan before you drive to the store — but there are tons of private pilots who seem to find it worth enduring in exchange for the fun and freedom of flight.
Besides, I can _already_ drive my own car. A faster car isn't actually much of an upgrade in capabilities.
The median yearly income in the very very poorest countries in the world is $500-1,000. So an iPhone might be 3 years of salary.
Most of these supercars are worth more than what the average American would make over 40 years.
Beyond the fact that rural environments in poorer countries don’t even have the structured economies needed to make some of these comparisons, there are orders of magnitudes differences at play here.
There might be some people who think “if I had that much disposable income why would I spend it on that?” But these aren’t iPhones. These are private jets. They are fundamentally out of reach for everyone and are immense signs of wealth.
There’s surely a bunch of engineering and cool shit to nerd out on from it, but there’s no democratization of the super car. If these companies wanted to they could mass produce and sell at 1/10th the cost. But that defeats the purpose of these cars existing.
I'm not so sure if that would be feasible. In the case of say a limited edition Hurican I don't think there is enough additional engineering cost that can justify doubling the price of a $500k car for special editions, but I'm also not sure if mass production could drop the price for a new one down to $50k. The amount of specialized equipment and expertise involved in building these things are immense: https://www.youtube.com/watch?v=GVjtpr6LUuE
After all, while the new c8 corvettes have near-supercar levels of performance from a numbers perspective for a $60k car, the exterior and interior quality is so far away from that of supercars and hypercars it's not even funny, and GM is still taking a loss on every 'vette sold. The companies listed in the article just make extremely bespoke and specialized vehicles, and I'm sure mass production would only cause quality control issues. Besides, there really aren't that many people that can afford such expensive toys, mid-tier luxury brands like BMW and Mercedes already have many $100k cars (AMG's and M cars) sitting on lots because of a lack of demand; It's not because people don't want them, they just can't afford them.
Of course, these cars cost a fortune to insure and maintain, and they are absolutely not practical for daily use. I’m just saying the reality is more complicated.
Daily driver cars are depreciating assets. A supercar in fantastic condition that has little / no miles is an appreciating asset. A Bugatti supercar with 150k miles doesn't really have a large market, so it's likely to take a huge loss to sell in a reasonable amount of time. It might sell faster if it is parted (sometimes rare vehicle owners will pay way over list price to get replacement parts fast so they can get their prized possession working again quickly).
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Do you remember the last time you saw a pre-Aventador (so Murcielago, Diablo, Countach, Miura) V12 Lamborghini hammering down a road at 40+ mph (65+ kph), and not dawdling about looking for attention? If so, you probably remember something you actually felt. In your body. A shockwave, even as a pedestrian, imparted by that V12. It's a lot more real INSIDE the car.
Drive a high-revving (8000+ rpm) mid-engine Ferrari. Once you're well into the depths of what the second camshaft profile offers, there is legitimately a frequency in which vibrations are transmitted into the chassis that will literally make your spine tingle.
Get into a motorsport-derived Porsche. The air-cooled ones have a buzz about them by lacking the insulation of water-jacketing. Though the newer ones, past 7500rpm, twist their sound into a chilling, baleful howl. All while it's telling you exactly. what's. going. on... through its freakish levels of precision and feedback. You can put any knucklehead in a modern proper 911, have them go through a corner at twice the speed they would've normally considered, and the car basically will have made it absolutely clear they can go faster still next go around.
There are other things too with materials. Where everything feels fantastic to touch and hold, and some devilish CNC work, machining and precision. Though for very high-end metal (granted, less so in the past 5 years, 10 for some brands) there is a real physicality to the driving experience that gives those cars the "soul" that other cars do not have. Some older more accessible sports and muscle cars have done it similarly well -- older Nissan GT-Rs, some Corvettes, Mitsubishi Evos, RX-7s, some particularly playful compacts and well-sorted muscle cars.
The thing is... as everything else becomes increasingly homogeneous aside from body/character lines, headlamp and grille graphics, interior themeing -- particularly on the power train front -- that is what's going to differentiate manufacturer A from B. The new Porche Taycan Turbo S reviews all laud how brilliant the engineering is, and how well it handles, and how quick it is, and the usual build quality. Well and good. Though all the journalists have admitted that it has no soul, and ergo they just can't really give a rats. "It's nice. It's fast. Buy it if you want it. Cheers." Your Tesla you're so thrilled about? You're going to eventually acclimate to that torque. Then everything will have that torque. Congratulations, that will soon be the new normal... and a very different character (and I'd say less exciting) of torque delivery than other types of cars have offered.
For most people, a "good car" is fine. Great. Focus on comfort, safety, reliability, TCO and emissions. It's the pragmatic choice, and I fault no one for it as it's the correct choice. In fact, I'm a pedestrian and public transit user well over 99% of the time! Though realize that for some of us, we like driving, and doing it in something interesting in ways that is difficult to quantify. Not commuting. Driving. At 3AM in the middle of nowhere. Having an adventure with our good friend: the machine.