Editor’s note: A previous version of this story mistakenly stated that RYCEY was the stock ticker for Rolls-Royce Motor Cars Ltd. However, it is actually the stock ticker for Rolls-Royce Holdings plc, a separate entity from Rolls-Royce Motor Cars Ltd, which is a wholly-owned subsidiary of BMW AG. We regret this error and have corrected the article accordingly.

What Happened: The ultra-wealthy are increasingly seeking unique, customized vehicles from these automakers, reported CNN on Saturday. This trend is driving substantial revenue growth for these companies.

Lamborghini, for instance, sold over 10,000 vehicles in 2023, a first in the company’s history. Ferrari saw a revenue increase of over 17%. The demand for personalized vehicles has led to a significant rise in sales of individually customized cars, some of which can cost double the base price of the vehicle.

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"Personalizations, customizations, have actually been the key driver behind the better than expected earnings throughout the year," Gonzalez Lastra, investment partner with Tema ETFs, which operates a luxury goods investment fund. said.

These automakers cater to a small, ultra-wealthy customer base, with at least $30 million in potential spending money. This demographic is not only growing in size but also increasing in wealth, creating a lucrative market for ultra-luxury vehicles.

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