London Sees Luxury Car Sales Slump as Tax Hikes Hit Rich

Ricky Lawrence’s daily routine often began behind the wheel of his 1986 Rolls-Royce, cruising through the pristine streets of London’s elite Belgravia district in convoy with his friends in their luxury cars.

This exclusive club would pull up along Motcomb Street, a short, polished stretch lined with designer boutiques and cafés, before walking into Motcombs Restaurant, their regular haunt. Known to locals as the “Motcomb regulars,” they’d sit for hours puffing on cigars and quaffing red wine while their cars gathered parking tickets and passersby took photos.

But that’s over now. Lawrence, a 34-year-old originally from south-east London who owns ...