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U.S. consumers are getting better
deals on luxury cars and sport-utility vehicles this year as the
top brands clear out old models and race to be No. 1 in sales.
Toyota Motor Corp. (7203)’s Lexus has led the rise in customer incentives. Lexus boosted discounts on its cars by 54 percent this year and its SUVs by 60 percent, according to researcher Autodata Corp. Daimler AG (DAI)’s Mercedes-Benz increased incentives 11 percent and Bayerische Motoren Werke AG (BMW) by 6.9 percent, compared with a 2.2 percent gain in industry-wide promotions.
You have these three brands that are all very close to one another and that’s going to put incredible pressure on pricing,” Tom Libby, lead North American analyst for R.L. Polk & Co., said in a phone interview. “That’s going to cause incentive wars. ”
Lexus was the top-selling luxury-auto brand in the U.S. for 11 years, until BMW took the crown last year. Mercedes leads BMW by fewer than 2,000 vehicles through May and Lexus by more than 18,000. All have increased deliveries faster than the total U.S. light-vehicle market’s 13 percent gain.
Lexus sees little chance of winning the U.S. sales race this year, Mark Templin, Toyota’s U.S. Lexus chief, said in a phone interview. The brand’s goal is for 250,000 U.S. sales this year, less than 1 percent more than BMW’s 2011 results. BMW sales are up 14 percent so far this year. Regaining the sales title would be a goal “if possible,” Kazuo Ohara, senior managing officer for Lexus, told reporters in February.
“Spending is up this year because last year we didn’t have anything to sell,” Templin said. “If you go a year from now, in terms of incentives, you won’t see big growth.”
For original news source visit:
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Toyota Motor Corp. (7203)’s Lexus has led the rise in customer incentives. Lexus boosted discounts on its cars by 54 percent this year and its SUVs by 60 percent, according to researcher Autodata Corp. Daimler AG (DAI)’s Mercedes-Benz increased incentives 11 percent and Bayerische Motoren Werke AG (BMW) by 6.9 percent, compared with a 2.2 percent gain in industry-wide promotions.
You have these three brands that are all very close to one another and that’s going to put incredible pressure on pricing,” Tom Libby, lead North American analyst for R.L. Polk & Co., said in a phone interview. “That’s going to cause incentive wars. ”
Lexus was the top-selling luxury-auto brand in the U.S. for 11 years, until BMW took the crown last year. Mercedes leads BMW by fewer than 2,000 vehicles through May and Lexus by more than 18,000. All have increased deliveries faster than the total U.S. light-vehicle market’s 13 percent gain.
Lexus sees little chance of winning the U.S. sales race this year, Mark Templin, Toyota’s U.S. Lexus chief, said in a phone interview. The brand’s goal is for 250,000 U.S. sales this year, less than 1 percent more than BMW’s 2011 results. BMW sales are up 14 percent so far this year. Regaining the sales title would be a goal “if possible,” Kazuo Ohara, senior managing officer for Lexus, told reporters in February.
“Spending is up this year because last year we didn’t have anything to sell,” Templin said. “If you go a year from now, in terms of incentives, you won’t see big growth.”
Redesigned Models
The brand will offer smaller incentives over the course of the year, he said, as new versions of its most popular models reach dealershipsFor original news source visit:
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