A boom in the luxurious car market in France
It’s been a long time, the whole world is facing an economic slowdown. France also suffered due to the crisis. But recently, the French luxury car market is witnessing a boom. Most recently, Paris Motor Show has been staged in Paris, France. The famous Exagon Motors displayed its latest outcome, the Furtive eGT, France’s most luxurious automobile.
The car consists of advance most technologies with awesome features. The executives from Exagon have bragged their €400,000 ($516,000) battery-powered car comes with customizable leather interior, rigid carbon-fiber frame and body, and two powerful electric engines. But according to experts, the vehicle while rich on technical prowess, it is missing an element that traditionally surrounds luxury goods, a legacy.
In spite of the presence of luxurious brands like, Veuve Cliquot Champagne, Chanel couture house, Falcon business jets and so on, France has struggled for more than a half century to break into the luxury car market. Most importantly, the French luxury car market is now dominated by a quartet of German auto brands such as BMW, Daimler AG’s Mercedes-Benz, Volkswagen AG’s Audi and Porsche.
Luc Marchetti, who is the Chief Executive of Exagon, has commented that, “In France, which is after all the country of luxury goods, there is a big hole in the automobile sector.” Eventually, Exagon, which is based in Magny-Cours, France, has orders for 60 vehicles and hopes to begin deliveries next spring. Not only this, France’s biggest auto makers, Renault SA and PSA Peugeot Citroën SA are eager to put an end to a prolonged absence from the luxury segment that has left them vulnerable to the region’s slowdown. They have started to midrange their vehicles. Though the economy is still suffering, French car makers are still trying to find a way out with new hope.