Review Car

More Luxury Cars Being Purchased

With the economy in a rut, many people are wondering when will it let up? Well, researchers have concluded, that perhaps the turn around is just in the distance as more and more consumers are spending more for their vehicles. The average cost of purchasing a car has rose from $23,500 to $27,229. 

More and more people are purchasing those more luxurious cars that are bigger and full of options than the gas savers that they have been purchasing in the past. For example, Cadillac improved sales by 15% nationwide, and GM has said that they are having a hard time meeting the demand for Cadillac's as more people purchase them. In addition, Acura sales increased by 24%, Porsche sales increased by 28% and Lexus sales increased by 46%. 

So what has encouraged these statistics? Many people are crediting those with more disposable income getting out there and buying whereas, they have been sitting out for the past few year. Still others contribute the incentives that these luxury car brands are offering buyers. 

Another huge comeback is in the pickup and SUV market, which ran circles around cars in the past few months in regard to sales. GM for example, saw an increase in the sales of their SUV's by 36%. Many believe that lower gas prices is contributing to this increase. 

Above all else, these luxury vehicles are offering technology that other vehicles do not offer, which is a huge selling point for these vehicles as more and more people are wanting the next cutting edge product. So much so that those vehicles such as the Mini and the Smart car saw sales decreasing by a small percentage. 

However, those middle class people are not running to the car lot to purchase a new vehicle yet. And probably won't be until the economy is much better. Which means that the automakers are not out of the dark tunnel just yet.