Drop in Demand for Luxury Cars Continues
Do luxury markets really hold up better than others during an economic crunch? Many experts say no, and it would seem the steady decline in luxury auto sales is backing them up. Estimates say that automobile sales fell in March, which would mark the 5th straight month of decline and could result in the lowest numbers since 2005. Analysts speculate the drop in auto buyers has to do with several factors, including higher-end buyers holding onto their vehicles longer (waiting for the market to improve) and fewer entry-level lux auto owners being able to afford to buy right now due to increasing costs in other areas of their budget.