Rising interest rates put brakes on speeding luxury car sales
BMW and Mercedes remained bullish about coming months, calling March the peak month in depreciation on annual basis. “Luxury segment is much more stable in growth, driven by introduction of fantastic cars. The average car industry is not growing as fast as luxury segment and we expect higher growth rates than last year,” said Andreas Schaaf, president of BMW India. He said BMW saw a growth of 80 per cent during January-April 2011. Going ahead, rising luxury vehicle prices may put brakes on luxury car growth. Mercedes-Benz India has already raised vehicle prices by Rs 40,000 to Rs 1.5 lakh due to rising commodity costs and exchange rate fluctuations, while BMW and Audi are monitoring the same. An imposition of 30 per cent customs duty on sub-assembled parts in CKD (completely knocked down) kits, against the earlier levy of 10 per cent may also impact luxury car prices. While BMW has ruled out being affected by the levy as it locally assembles all parts, Mercedes-Benz and Audi are waiting for a solution from the government along with Siam (Society of Indian automobile manufacturers) for a two-year postponement of the new rule.Luxury Car Sales - News
The sales are affected because first time entry-level luxury car buyers may have put off their purchases by a few months owing to high interest rates, according to Abdul Majeed, auto practice leader, PwC. “There are some higher-middle class customers
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"As people move up from the premium luxury range to super luxury car segment, the sales of cars priced above Rs 1.5 crore shall pick up, and Gujarat is increasingly becoming a good market for the luxury car segment," Choudhary said.
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No-dicker luxury car sales are almost unheard of in Canada and the rest of the mature automotive world. Not China. No wonder the big German premium brands are pulling the bulk of their profits out of China these days.
Despite gas prices, luxury car sales up | Wheels.ca
Despite the increasingly higher costs of driving caused by rising fuel prices, Canadians continue to like their imported new luxury vehicles.
With sales up 3.5 per cent compared with the first four months of 2010, to 38,579 vehicles sold through to the end of April, sales from the 10 leading import luxury brands kept on pace with the overall new car sales market in Canada, which was up by a similar margin with sales of 216,409 vehicles overall.
And so far in 2011, the three German luxury brands have led the way, according to data from DesRosiers and Associates.
With sales up 3.8 per cent, Mercedes-Benz is the best-selling luxury brand in Canada with 9,378 vehicles sold so far in 2011.
BMW is in second-place, up 7 per cent with sales of 8,129 vehicles while rival German brand Audi ended up in third spot with 5,924 vehicles sold, up 19.4 per cent compared with this time in 2010.
In fourth spot, Toyota's luxury Lexus brand saw its sales increase by 1.6 per cent, with 4,600 vehicles sold, just ahead of fifth-place Acura . The Honda luxury brand's sales are off 17.1 per cent this year, with just 4,231 vehicles sold.
The remaining five luxury brands sales are a mixed bag of ups and downs so far for 2011.
Nissan's Infiniti's numbers are down 8.5 per cent, to only 2,168 vehicles sold, just ahead of Volvo , which saw a slight increase of 2.1 per cent to 2,087 vehicles.
Rounding out the bottom three, Jaguar/Land Rover's sales of 1,176 vehicles is an increase of 11.8 per cent, compared with the first four months of 2010. Porsche sales are up by a substantial 41.1 per cent to 845 vehicles sold while the remaining few Saab dealers in this country have managed to sell 41 cars so far in 2011.
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Might as well buy a big luxury car, right? : sales?! Don't car lots understand mktg? sales, ppl!
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