Demand For Gulfstream's New Jet ($59 MILLION) Surging Past Expectations

Gas prices may be rising, car sales may be falling, but sales of top-end private jets are surging.

According to a Gulfstream spokesman, demand for the company's new G650 -- the largest Gulfstream yet -- has far outstripped early supply. The company has received around 500 letters of inquiry, which include $500,000 deposits from prospective buyers. That's about equal to the total number of G4's ever sold -- over the past 20 years. Gulfstream, a unit of General Dynamics, sold about 193 of the hot-selling G5 before it moved to the next model.

"Nobody thought in their wildest dreams we would get this kind of response," said Gulfstream spokesman Robert Baugnier.

And that's caused an unexpected problem for the company: angry billionaires who are being told they have to wait until 2020 or later for a plane.The G650 doesn't start rolling off the production line until 2012, and the company will ramp up production to full capacity (about 45 planes a year) in 2014. The company is also considering doubling capacity in 2014 if demand remains strong and it can get supplies.

The company says that some of the customers who sent in deposits are being told they won't get a plane until 2021 or later.

Read the whole story here.

Comments

[Enid]

They should hire Mexicans. Planes will all be
ready, finished 2010.

[Enid]

Why not hire some new employees and make planes on
a much faster time frame AND MAKE SOOM MONEY NOW not 2020.

Ramp it--up.

[WIpatriot]

Who could think of a better barometer than Gulfstream to gauge the economy?? Hmmm?

[letsmakesense]

Sales of these plane to people who profit from wars and our general misery should be outlawed.
Wake up America
U R Getting screwed

[dadw5boys]

but we never get kissed.

[MRminutman]

The company says that some of the customers who sent in deposits are being told they won't get a plane until 2021 or later.

BUT I WANT A PLANE NOW DADDY!!!!!

Veruca Bush

[JoeBlough]

That's because the war profiteers made more money than they thought they would. Extra money to burn? Buy a plane and show-off!

[CheshireCat2]

What is Forest Gore in the market for another private jet as he excouriates America for wasting fossil fuels?

[sawdustinhershoes]

you know you are a true pain in the ass. What's this got to do with Gore? Unlike your buddies Cheney and the Bush Crime family and all the Arabs rich with oil money, Gore is realtively poor. I mean, he's not a billionaire.

But leave it to you to pony up another lie slamming a liberal. You do this whether or not it's germane to the conversation.

Next you're gonna go on about Obama buying one since he's so "elitist".

You, as always, are tiresome.

[Kong2]

Yes, I'm sure that's it. Al Gore is singlehandedly propping up the business jet market.

[Kong2]

"It's good to be the King" - Mel Brooks

[dadw5boys]

So that is how they will escape after the deed is done?

How much cash can a plane that large carry?

[desertdweller]

Talk about shitty mileage and huge carbon footprint - this is one of the worst.......

[gcallaghan]

2020 euro = $4.00
Gulfstream G650 = $59,000,000
not rubbing elbows with the unwashed masses =priceless

[Tom95134]

The real question is, "Who is buying and where are the sales?" When you consider the trashing the dollar has taken $58 million is not that bad if you're paying in Euros. (They also burn less fuel so it could be a trade down from a 747.)

[middleoftheroad]

I wonder how many bloggers here on Huffington have had the pleasure of using a private jet...My guess is an embarrassing percentage!

[WIpatriot]

My guess is that your guess was pulled out of your posterior.

[dgscol]

IT is worse actually than Boom-Bust, it is more like Boom-Anti-Boom. Who is looking ahead on this?

[dgscol]

Windfall profits from Chinese manufacturing are fueling these sorts of gorging; but they are also indicative of the gutting of American Industry. It is boom-bust, and the bust could be very bad.