Sales of Luxury Vehicles Speak of Increased Optimism

Automakers & Their Luxury Brands- NYT

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Sales of luxury vehicles are rising even as the economy takes its time turning around.  Analysts say that this is a sign that (at least) luxury consumers are feeling more optimistic about the state of the economy and the economy’s future.  The market for luxury cars is expanding in multiple directions from compact luxury cars to leather and wood-trimmed SUVs to the updated models from ultraluxury brands like Bentley. 

The article points out that “luxury sales generate profits for automakers, encouraging even the most mainstream companies to compete in expensive segments.”   Ford, for example, is pouring money into revamping its Lincoln luxury brand.  So far the results have been mixed as to the level of success this endeavor has had.

Joseph Phillippi, of consulting firm AutoTrends adds “The luxury manufacturers have to up the ante because a lot of regular cars now come with bells and whistles like heated steering wheels.”