Luxury Car Sales Slump in Europe
nationsonline.orgEven the luxury end of the car market has begun to suffer in Europe. Apparently, the 1% have begun to feel the pinch of recession. They must have decided to hold their current cars longer, or go down-market to buy…
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Even the luxury end of the car market has begun to suffer in Europe. Apparently, the 1% have begun to feel the pinch of recession. They must have decided to hold their current cars longer, or go down-market to buy cheaper vehicles. Both Daimler, owner of Mercedes-Benz, and Porsche cut forecasts.
Fortunately, recent car sales data in the U.S. shows each continues to do well in the world’s second-largest car market. And the appetite for luxury cars in China, the world’s largest market, has been good. Bloomberg reports:
“If a downturn lasts for longer, which this one is, premium is not immune from pricing trends,” said Arndt Ellinghorst, a London-based analyst at Credit Suisse Group AG with an outperform recommendation on BMW, Porsche and VW, and a neutral on Daimler. “The pricing environment in Europe is the biggest problem,” with incentives spreading from Italy, Spain and France to Germany.
Douglas A. McIntyre
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
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