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.
YTD Change (Total Sales)
*Data reflects year-to-date change in total manufacturer sales through 11/30/2014
2015 BMW 320
$279/month for 39 months with
2015 BMW 428i Coupe
$389/month for 39 months with
2015 Mercedes-Benz GLA
$579/month for 36 months with
2015 Acura MDX
$439/month for 36 months with
2015 Lexus ES 350
$349/month for 36 months and
2015 Lexus RX 350
$399/month for 36 months and
2015 Infiniti Q50
$329/month for 39 months and
2015 Cadillac SRX
$359/month for 36 months with
2015 Cadillac Escalade
$939/month for 36 months with
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.
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