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Luxury Sales Climb Amid Increased Competition

CHICAGO, Dec. 15, 2014 /PRNewswire/ -- Despite increased competition from a range of mainstream brands, luxury-brand vehicle sales are up 7.3 percent year-to-date, Cars.com reports.  Car buyers have shown that, though emerging, less-expensive luxury options are available, the allure of the traditional luxury experience still drives sales.

With industry-wide new-car sales up 5.4 percent through November, the uptick in luxury sales has been aided by an improving stock market and rising consumer confidence, a trend that is forecasted to continue into 2015.

"The luxury segment is enjoying a particularly strong December," said Jesse Toprak, chief analyst for Cars.com.  "With the stock market reaching new highs, shoppers are once again comfortable splurging on premium new-vehicles. A rebounding economy and very attractive lease deals will help close out 2014 with some of the best new-car sales numbers luxury automakers have seen all year."

Mirroring consumer demand for small SUVs, November luxury SUV sales were up 4.1 percent year-over-year.

Audi (15.4%), Lincoln (15.0%) and Lexus (13.6%) posted the largest year-to-date increases in total sales, while Cadillac is the lone luxury auto manufacturer to show a decrease in year-to-date sales.

"Cadillac took a major leap to refresh its image by moving to New York City this year," added Toprak, "But the numbers speak for themselves – the brand still has an uphill climb to show consumers they're on par with attractive makes like BMW and Mercedes-Benz."

Though BMW ranks fifth in year-to-date growth, the automaker's 3-Series was the best-selling luxury vehicle in November, followed by the Mercedes-Benz C-Class and the Lexus RX.

Luxury vehicle leases now make up approximately 50 percent of all luxury transactions, with lease-heavy markets such as Los Angeles exceeding 65 percent share.

Brand

YTD Change (Total Sales)

Audi

15.4%

Lincoln

15.0%

Lexus

13.6%

Porsche

11.8%

BMW

9.5%

Mercedes-Benz

6.0%

Jaguar

3.8%

Land Rover

3.3%

Infiniti

2.0%

Toyota

1.3%

Acura

0.2%

Cadillac

-5.9%

 *Data reflects year-to-date change in total manufacturer sales through 11/30/2014

 

Model

Lease Deal

Expiration Date

2015 BMW 320

$279/month for 39 months with
$3,754 down, 10,000 miles/year

1/2/15

2015 BMW 428i Coupe

$389/month for 39 months with
$4,114 down, 10,000 miles/year

1/2/15

2015 Mercedes-Benz GLA

$579/month for 36 months with
$4,973 down, 10,000 miles/year

12/31/14

2015 Acura MDX

$439/month for 36 months with
$3,299 down, 10,000 miles/year

1/5/15

2015 Lexus ES 350

$349/month for 36 months and
$1,999 down, 10,000 miles/year

1/5/15

2015 Lexus RX 350

$399/month for 36 months and
$3,499 down, 10,000 miles/year

1/5/15

2015 Infiniti Q50

$329/month for 39 months and
$2,799 down, 10,000 miles/year

1/2/15

2015 Cadillac SRX

$359/month for 36 months with
$3,559 down, 10,000 miles/year

1/5/15

2015 Cadillac Escalade

$939/month for 36 months with
$4,919 down, 10,000 miles/year

1/5/15

 

About Cars.com
Launched in 1998,
Cars.com is a leading independent research site for car shoppers with approximately 30 million visits per month. The Chicago-based company provides shoppers with credible and easy-to-understand information from consumers and experts.  Leveraging its growing audience, Cars.com informs digital marketing strategies through consumer insights and innovative products, helping automotive dealers and manufacturers more effectively reach in-market car shoppers. Cars.com is owned by Gannett Co., Inc. (NYSE: GCI). For more information, visit www.dealers.cars.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/luxury-sales-climb-amid-increased-competition-300009564.html

SOURCE Cars.com

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