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SDNews.com
Home La Jolla Village News

Luxury on wheels: High-end car dealership flourishes despite a sputtering economy

Tech by Tech
September 2, 2010
in La Jolla Village News, News, Top Stories
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Luxury on wheels: High-end car dealership flourishes despite a sputtering economy

Americans love their cars. And for La Jolla’s most elite luxury-automobile dealerships, life in the fast lane has yet to slow down. Rick Ahumada, salesman and marketing director for Symbolic Motor Car Co. at 7440 La Jolla Blvd., said the dealership sells “literally hundreds of cars per year,” both locally and internationally. Its inventory includes an average of 80 automobiles in stock at any given time, with price tags that range from $60,000 to $20 million. About 40 percent of sales are local and about 60 percent comes from other locations, Ahumada said. Headquartered in La Jolla, Symbolic maintains one of the largest inventories in the nation for Bentley, Bugatti, Lamborghini, Lotus and Rolls Royce brands. “Our clients are usually very well-educated about what they want, and they know what they’re looking for,” Ahumada said. “But we can also educate people and provide support as they approach that goal of owning their dream car. That’s part of our job.” The dealership reaches out to clients through events and online networking, in addition to fielding calls from assistants and other agents who represent potential buyers. “When you’re dealing with such high-end clientele, part of our business is knowing who the customer is, where they are, what their habits are and just understanding the demographics,” Ahumada said. “We’re really dealing with one percent of the population whose lifestyle is very different from the rest.” Symbolic offers purchasing as well as financing and leasing for clients. Despite less-than-ideal economic conditions, Ahumada said the dealership has seen more cash purchases than leases lately. “Maybe part of it is that banks aren’t willing to lend as much right now,” he said. “People in the market for these vehicles are in industries that are recessionproof, or they have other resources.” While luxury vehicles always exude a certain allure, their acquisition often takes on new meaning in the face of economic instability. “Everybody has a different motive,” Ahumada said. “Some of the classic and vintage cars are good investments, and some of the contemporary cars are not so much investments as they are rewards.” One couple, Ahumada said, recently visited Symbolic and bought a new Bentley for their 50th wedding anniversary after watching their retirement funds dwindle during the stock market decline. “They reasoned that if they didn’t do something with the money, it would be gone anyway,” he said. “So they decided they might as well enjoy some of it and have something to show for it.” Other clients, he said, contemplate a new purchase after reaching important milestones in their lives related to family or business, or while still working towards important goals professionally. “It’s a way to enjoy some of the fruits of your labor now,” Ahumada said. Ahumada said clients still seek diverse qualities for diverse reasons. “If you look at our product line, we have a little bit of everything,” he said. “Some people want fun, some want sporty, some want speed and some want comfort.” He said Symbolic’s average client — which comprises only about one percent of the population and can include “everybody from royalty to celebrities, athletes, entertainers and business people” — typically already owns five or six automobiles. “I don’t think one automobile does everything you need it to do,” he said. “You might have your SUV, your sedan, your convertible, your pickup truck and then your sports car. Part of our job is assessing the customer’s needs and steering them in a certain direction.” Ahumada said he was inspired to become involved in the automobile industry by his father, who was in the business for almost 50 years. “In order to be a good salesperson, you have to like what you sell,” he said. “We sell some of the greatest products in the world. If you’re going to be in any business and you’re good at what you do, wouldn’t you want to do that?” The Symbolic sales showroom is open Mondays through Fridays from 9 a.m. to 6 p.m. and Saturdays from 10 a.m. to 5 p.m. To set up a consultation, call (858) 454-1800.

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