Fierce competition in the luxury car market is driving down prices - The Globe and Mail
“Indeed, of the approximately 50,000-unit gain in the luxury market in the past 10 years, more than 70 per cent is attributable to this one segment,” notes DesRosiers. Rigs such as the Lincoln MKC, BMW’s X1, the Infiniti QX50 and Mercedes-Benz’ GLA-Class are now the darlings of upscale buyers. Sales of luxury cars were in fact higher in 2014 than a decade ago, notes the industry consultant. This despite the fact luxury vehicle sales surged to 187,786 in 2014 from 135,464 in 2005. How hot is luxury overall. DesRosiers reports that as of July this year, luxury vehicles comprised 10. 8 per cent of total new vehicle sales, versus 8. 6 per cent in 2005. At present trends, 2015 luxury sales will easily out-pace 2014. The new and growing tidal wave of... Light truck luxury accounts for half of all luxury sales today, versus about one in five in 2005. A massive shift in consumer tastes. To meet demand, manufacturers are rolling out more and more new luxury utilities. The GLA is one that arrived in for 2015 as an all-new model, the Lincoln MKC another. An all-new X1 goes on sale later this year in Europe and will likely show up in Canada next year. The story is similar for the Infiniti QX50, which is in play with discounts. Source: www.theglobeandmail.com
