The boss of Bugatti Rimac says that demand for the automaker’s high-priced vehicles shows no signs of abating.
Shortly after the veil was lifted on the $5 million Bugatti W16 Mistral, Mate Rimac said the car manufacturer’s customers show no signs of slowing their spending, regardless of current recession fears.
“We don’t see any slowdown at the moment, quite the opposite,” Rimac told CNBC. “With Bugatti, we are sold out well into 2025. So even if the (recession) is a few years, we will come out even stronger out of it.”
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Demand for new Bugatti models is evident in the fact that all 99 examples of the W16 Mistral were sold by the time it was unveiled to the public during Monterey Car Week. Rimac noted that he was “a little surprised” that it sold out so quickly, noting that the majority of buyers come from the U.S.
Of course, it’s not just new Bugatti and Rimac models that are driving the brand. In fact, the biggest growth driver is Rimac Technology that sells battery and EV technologies to the likes of Porsche, Aston Martin, Hyundai, and other major car manufacturers.
Rimac Technology has approximately 1,000 employees and is developing self-driving ‘robotaxi’ technologies that Mate Rimac believes will prove important in the midst of raw material shortages.
“The No. 1 constraint is having enough materials and supply chain to convert the fleet that we have globally,” he said. “I don’t think the right way to do it is to convert one to one, like one combustion engine car for one electric car, because we are just using them for 3% of the time. The majority of people, they don’t necessarily really want to own a car if there is a more convenient, safe option that gets you from point A to point B.”