Car sales leave advisors at the curb

Car sales leave advisors at the curb

Car sales leave advisors at the curb A certain car company delivered record sales in March prompting speculation that advisors were a big part of this rising tide.

BMW Group announced earlier this week that it delivered 526,669 vehicles in the first quarter around the world achieving an 8.1 per cent increase year-over-year, its best Q1 ever.

Leading the sales charge were strong delivery numbers for the BMW 2 Series, 4 Series, X5 and X6 models along with a huge quarterly increase from Mini – up 28.4 percent YOY in Q1 to 74,312 vehicles – its strongest first-quarter ever thanks to the new generation 3-door model and brand new 5-door model.

"With the momentum provided by the range of new products we are bringing out this year, I am confident we will achieve our target of delivering more vehicles to customers this year than ever before,” said Ian Robertson, a sales executive with BMW. “This has been our strongest-ever first quarter.”

And advisors are a big part of that?

The results of WP Magazine’s first-annual Advisor Lifestyle survey, from the December 2014 issue of the magazine, suggest that’s unlikely.

 “The survey results indicate that a solid majority of advisors – 75% – spent less than $50,000 on their vehicles. Only 23% of the respondents indulge in greater luxury, paying between $50,000 and $80,000-plus for their vehicles.

So, your clients can rest easy. Advisors might be spending their hard-earned dollars on something but it doesn’t appear to be on expensive sports cars like BMW and Mini. A base model X3 comes in above that $50K ceiling most advisors want to keep above their heads.