Economic indicators point to a strengthening economy, which means more Americans are choosing luxury cars than in recent years. In August 2016, the sales volume of entry-level luxury cars in the US dropped by a significant 19.6% YoY (year-over-year) to ~53,000 units. For the same period, the sales of entry-level luxury SUVs (sports utility vehicles) increased by 11.3% YoY to more than 58,000 units, while the sales of entry-level sports cars dropped by 17.8% YoY to nearly 26,000 units.
Top car models in the entry-level luxury and sports vehicle segments included the BMW 3 Series, Mercedes-Benz C-Class, Lexus RX, Mustang, Chevrolet Camaro, and Dodge Challenger. We should note that Lexus is a luxury car brand of Toyota Motor (TM), while Chevrolet and Dodge belong to General Motors (GM) and Fiat Chrysler (FCAU), respectively. Ford Motor (F), of course, makes the Mustang.
A total of nearly 14,000 mid-range luxury cars were sold in the US in August 2016, which represents a 6.3% YoY decline. For the same period, sales of mid-range luxury SUVs increased by 14.2% to nearly 26,000 units, while sales of mid-range sports cars remained flat at 4,422 units. In this category, Mercedes-Benz E-Class, BMW 5 Series, Acura MDX, and Chevrolet Corvette were among the best-selling vehicle models. The sales of premium luxury cars in August 2016 rose by 3.1% YoY to 4,755 units. At the same time, premium luxury SUVs witnessed an increase of 1.9% YoY to 5,800 units, while sales of premium sports cars dropped by 2.9% YoY to 1,818 units. In the premium luxury vehicle segment, Mercedes-Benz S-Class, BMW 7 Series, Cadillac Escalade, and Porsche 911/918 were among the best-selling vehicle models.
