“Every new car is a luxury purchase.”
Part of the problem is that more Americans want expensive SUVs and pickups with all the options, which can cost as much as 40% above the base price, he added. .
Over the past decade, luxury car shoppers have repeatedly reiterated their willingness to spend more on luxury vehicles and the funding that comes with it.
Citing extreme enthusiasm for the Honda Odyssey’s built-in vacuum option, which was first introduced in 2014, Drury said demand for even the smallest upgrades has skyrocketed.
Different packages, or trim levels, offer different features to appeal to different buyers. These include improved safety features, a larger engine, and high-end finishes such as leather seats and a better stereo.
Today, Drury says, everyone wants high-tech touch screens, ambient lighting, 360-degree cameras, and air-conditioned seats. “Fewer and fewer people want the basics.”
with Favorable luxury segment Due to high demand, automakers are upgrading their lineups and scaling back cheaper cars.
“Base models are attractive in theory, but they rarely hit the streets,” says Drury. “At this point, all new cars are luxury purchases.”
“Who do you blame the consumer buying these options, the dealers ordering these cars, or the automakers making fewer base models?” he said.
With more people getting price cuts out of the new car market, automakers may start testing cheaper alternatives, but if consumer interest is high, prices for those models could rise as well. There is
For now, the best way to get a base model vehicle is to order it directly through your dealer.
“There could be a completely superior alternative for about half the cost,” he said.
