Luxury Car Brands Thriving in Weak Economy According to TrueCar.com
BMW, Lexus and Mercedes-Benz Vying for Top Sales Spot in 2010
SANTA MONICA, Calif., Oct. 15 /PRNewswire/ -- Through nine months, it's a tight race to the finish line to see which luxury brand ends up number one in sales. TrueCar.com, the authority on new car pricing, trends and forecasts, today released its findings comparing sales and incentive spending through September versus the same time period in 2009 and discovered that most luxury brands gained traction in 2010 while decreasing their incentive spending above the industry average.
More than half of the thirteen major luxury brands increased sales by over 20 percent in 2010 while 10 of the 13 brands decreased their incentive spending. Cadillac had a surge in sales with an increase of 43.8 percent while decreasing their average incentive spending by 13.8 percent. Among the Japanese luxury brands, Acura increased sales by 25.8 percent, but also saw their incentive spend rise 12.9 percent. Audi and Porsche have been the strongest European brand performers this year, increasing sales among European luxury brands by 23.6 percent, while decreasing incentives by 16.8 percent and 45.4 percent, respectively.
"Luxury cars have shown the most stability among the segments this year," said Jesse Toprak, VP of Industry Trends and Insight at TrueCar.com. "These next three months, including the luxury holiday sales campaign, are crucial for Lexus if they want to continue to lead the market as they have for over a decade."
Below is a chart comparing luxury brands and their incentive spending through September vs. the same nine months last year:
Sales/Incentives Comparison Year To Date (In Order By Sales Increase)
1/2010 – 9/2010
For additional data comparing luxury brands through September 2010 vs. the same nine months last year, please visit the TrueCar Blog.
TrueCar is the authority in new car prices. We show car buyers and car dealers how much people actually paid for a particular car in a specific local area. With TrueCar pricing, both new car buyers and new car dealers can know at any time what is considered a good or great price on a new car. Consumers no longer need to walk into a dealership partially informed and fully suspicious – using TrueCar they walk in knowing the price of a fair deal. Dealers benefit by TrueCar's real-time, unbiased information about marketplace pricing, helping them price cars for increased sales, and ultimately gaining market share over other dealers. Our innovative new car pricing service is offered free of charge on our website at www.truecar.com, on our mobile site at mobile.truecar.com, and via syndication of our tools and pricing data to leading automotive research sites throughout the web.
About TrueCar Data
TrueCar obtains data directly from numerous sources including automotive dealers, technology companies, data aggregators, and analytics companies within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more. TrueCar is insatiable about data with our goal to find 100 percent of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem. Our data is among the most timely and comprehensive in the industry. TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.
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