Angelenos tone down searches for high-end cars

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Can’t spring for a brand-new Bentley? The new Lambo just out of your reach? How about that convertible you’ve always dreamed of? Turns out Angelenos are cutting back on their research of new exotic cars and may be settling for late-model Rolls Royces, Maseratis and Ferraris, according to a leading automotive website.

Internet searches from Los Angeles-area consumers for ultra-luxury “exotic” new cars have started to drop, while searches for used exotics have risen, reports AutoTrader.com.

In July, Angelenos’ searches for exotic cars fell to 3.5% of all new-car searches on AutoTrader.com from 8.5% in January, while searches for used exotics in July rose to 2.5% from 1.5% in January.

Angelenos continue to search at nearly double the national rate for traditional luxury brands such as BMW, Mercedes, Audi, Saab, Cadillac and Lexus. These models made up 30% of searches locally compared with 16% nationally in July. For used luxury models, the figures are 34% versus 22%.

Nationally, searches for exotics made up 1.5% of total inquiries in July, while searches for used exotics made up less than 1%.

The number of searches for new convertibles in Los Angeles in July was almost double the national rates, at 8% versus 4.1%. Some 8.4% of all used-car searches from the L.A. area were for convertibles, compared with 5.8% nationally.

The exotics category generally includes Rolls-Royce, Maserati, Ferrari, Lamborghini, Aston Martin, Maybach and Bentley and several limited-production or high-priced models from mainstream brands such as BMW’s Z8 and Mercedes’ SLR. A car is classified as exotic if it has a combination of several factors including limited production, an exceptionally high price or extensive factory-available customization.

AutoTrader.com visitors tend to be in-market car shoppers, meaning they most likely will purchase a car within 90 days, the site says. The site lists about 3 million new, used and certified pre-owned cars and attracts about 14 million unique monthly visitors.

-- Craig Howie