Economic confidence spurs demand for luxury cars

 

STRENGTHENING business confidence in the Townsville region is seeing more locals splash the cash on their dream car.

Hinchinbrook business owner Phillip Moravcik, who runs high end vehicle detailing studio Attention to Detail, said the December 2018 financial quarter was his best to date in five years of operating in Townsville.

“Over the last two years, there has been a dramatic increase for me in the amount of luxury and sports vehicles getting booked in, as well as exotic supercars,” he said.

“The standouts would be working on a Ferrari 488, Lamborghini Huracan, Porsche 911 GT3, 1967 Shelby GT500 Mustang and the Ducati 1199 Superlegerra, a $100,000 superbike.”

Hinchinbrook MP Nick Dametto said given the amount of big ticket projects in the pipeline for the Townsville region, he was not surprised locals were willing to take the plunge on a luxury sports car.

“With that business confidence strengthening, people are starting to spend more money on those luxury items like high-end vehicles,” the Katter’s Australian Party MP said.

“That is great to see. We want that momentum to continue so businesses like Attention to Detail can continue to thrive.”

A recent PVW Partners Quarterly Townsville Business Confidence Index survey indicated that “business confidence has strengthened slightly in the December 2018 quarter, seeing 2018 finish with more positive business sentiment than that which it started”.

According to the survey, 84 per cent of respondents believed the $193 million Port of Townsville Channel Widening Project was going to play an important role in the economic recovery of Townsville.

“With talk of all these projects coming along and possible future jobs, I think people are starting to spend money again,” Mr Moravcik said.

“Luxury cars and sports cars are not a necessity, but an emotional purchase and the same goes for my services. But if more people are happy to spend their money on these purchases, it can only be a positive for the city.”

Attention to Detail is the only business in North Queensland certified to apply “Gyeon” ceramic coatings for protecting paint from the elements and “Xpel” self-healing paint protection film for protecting paint from physical damage.

Mr Moravcik said construction of motorsport body Drive It NQ’s $23.3 million proposed all-in-one facility at Calcium west of Townsville would be a boon for his business.

“More people would want to take their vehicle to a track and at the same time would want to protect their paintwork from physical damage so we would be doing more Xpel installations,” he said.

“After the Targa event held in Cairns last year, we had a large number of phone calls regarding installations for next year’s event. The Drive It facility would have a very large impact on the local economy because such a large percentage of Townsville locals are car and motorcycle enthusiasts who spend a lot of disposable incomes on their toys.”

Mr Dametto again called on both the State and Federal government to help fund the remaining $18.3 million required to see Drive It fully realised.

“We have a strong and passionate motorsport community in the North who are begging for this facility to be built,” he said.

“Drive It estimates there could $35 million in economic benefits for Townsville if the facility goes ahead. It’s time to make it happen.”