U.S. luxury car sales rise to record high
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The number of Americans now buying premium cars has risen to a record high, and this, according to The Wall Street Journal, is due to the fact that many Americans have been able to save money during the pandemic, and high-income consumers have increased their fortunes. However, according to dealers, many of these buyers pay the full amount in cash or make a cash advance.
According to research firm JD Power, the share of new cars sold by manufacturers such as BMW, Mercedes-Benz and Tesla has been steadily rising in recent years. And if, after several years of growth in 2019, it accounted for 14.1% of the entire US automotive market, then in June of this year it reached 17.3%. Data from the same JD Power shows that sales of super-premium cars, that is, Lamborghini, Bentley and Ferrari, are also growing, from the beginning of the year to July, 6.7 thousand were sold, which is a 35.6% increase. than for the same period five years ago.
Another research firm, Kelley Blue Book, estimates that premium car sales have been at record highs for the past few years. In 2021, 2.48 million of these vehicles were sold, which is 13.2% more than a year earlier. And sales of ordinary cars during the same time grew only by 1.7%.
And manufacturers take into account the situation and focus on the production of their luxury and more expensive models. For example, according to the WSJ, Cadillac is gearing up to launch its most expensive model, the Celestiq, a $300,000 hand-built car. And Mercedes-Benz is restructuring to primarily produce cars worth over $100,000, including G-class SUVs and Maybachs.
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