Lexus LS 460
Hyundai Equus (arriving next year to compete with the LS 460)
| Premium Class Downshifting | ||
| In 2006, 15.9% of consumers who traded in a compact-premium car, SUV or crossover purchased a mid-size premium vehicle. Today, that number has dropped 4.4% to 11.5%. The current economy has shifted the car-buying habits of today's cost-conscious consumers. | ||
| 2006 | June 2009 | |
| Compact to mid-sized | 15.90% | 11.50% |
| Other trade-ins in the premium segment showed shifts as well. | ||
| Mid-sized to large | 8.00% | 4.50% |
| Large to mid-sized | 12.60% | 16.20% |
| Mid-sized to compact | 10.80% | 14.80% |
In the premium class segment, which represents such makes as Audi, BMW and Lexus, a 4-year study depicts how more consumers are trading down to less expense vehicles. For instance, BMW 7-series customers are trading down to the more economical and less showy 5-series. Also consumers are shifting to new luxury players like Hyundai. Maybe the new Lexus-like design of the Buick LaCrosse can benefit from this shift just as Hyundai has with its Genesis sedan. Are consumers willing to sacrifice the snob effect of owning certain premium cars to drive politically correct vehicles in this soft economy? (The info provided by PIN is based on the time period of 2006 thru June 2009.) Source: Power Information Network | ||
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