Huge demand for supercars in London sees Surrey dealer join Europe’s fastest growing firms
Massive demand for supercars among London's super-wealthy elite has seen a UK dealership named as one of Europe's fastest-growing businesses.
Family-owned Romans International, based in Banstead, Surrey, has seen its turnover rocket from just under £24 million in 2012 to more than £70 million in 2016. The company now appears in the Financial Times's list of the 1,000 fastest-growing companies in Europe.
The surge in demand for luxury and performance cars is said to come from the ever-increasing number of millionaires and billionaires who are now living in London.
The company frequently sells ultra-rare hypercars such as Ferrari Enzos and Bugatti Veyrons, and recently sold an ultra-rare Ferrari LaFerrari and Maserati MC12, both of which have price tags of nearly £3 million each.
Tom Jaconelli, director at Romans International, said: "Trade in supercars has been phenomenal in the last few years and demand is continuing to outstrip supply.
"With continued uncertainty in the markets, investors are seeing collectable, high-value cars as an increasingly attractive option to invest their money. It's not uncommon to have sold the same car two or three times in a year as values have risen and owners try to turn a quick profit, many making thousands of pounds in a couple of months."
By Ted Welford