Daily Archives: July 27, 2017

A Look on the Current Situation of Luxury Car Sales

Row Of Parked Cars For SaleLuxury carmakers want to attract more customers. Thus, they introduced more vehicle models as their strategy to draw in buyers. Only a few, however, seems interested in the new offerings of these carmakers. Industry data showed that June 2017 car sales slipped slightly by three percent to around 16.5 million units from 16.8 million units year over year, based on the annualized selling rate in the month.

High-End Car Market Adapting to Changing Preferences

Despite the industry data findings, car owners should not be too hasty in switching to a cheaper model. Whether you own a Porsche in NYC or some other luxury car brand, these cars may still be a good investment if the vehicle owner maintains them properly.

Speaking of high-end cars, the luxury car market appears to be adapting to the changing preferences of consumers. One luxury car brand, for instance, launched different model series for a specific type of vehicle. The series ranged from a four-door sedan to a plug-in hybrid. Moreover, the series consists of a convertible type, a two-door, and a four-door coupe models.

Shifting Gears

Even though car sales may have been fewer in June on a year-over-year comparison, the demand for SUVs and pickup trucks still allowed automakers to record higher transactions than analysts’ expectations. The changing preferences of consumers also partly dictate how car manufacturers have sought to keep up with this trend.

Buyers, for instance, used to define a luxury car by its horsepower. This apparently changed as some car manufacturers turn to new technology in redefining a high-end vehicle. Self-driving capability is a prime example of such a technology.

While the sales of luxury cars dipped slightly, it has not stopped carmakers from planning to introduce new models. After all, factors such as low unemployment and better consumer sentiment will likely keep the car industry afloat.