Cars.com Reports 7.3% Increase In Luxury-Brand Vehicle Sales

An improving stock market and rising consumer confidence have both helped a rise in luxury auto sales, according to Cars.com.

Cars.com Chief Analyst Jesse Toprak said that the luxury segment is enjoying a particularly strong December.

“With the stock market reaching new highs, shoppers are once again comfortable splurging on premium new-vehicles,” he said. “A rebounding economy and very attractive lease deals will help close out 2014 with some of the best new-car sales numbers luxury automakers have seen all year.”

The Ford Motor Company F Lincoln, Toyota Motor Corp TM Lexus and Audi AG segments had the largest year-to-date increases in total sales, according to Cars.com, while the General Motors Company GM Cadillac segment had a decrease.

First Trust Exchange-Traded Fund II CARZ, an ETF that includes securities of companies that are classified as an automobile manufacturer, traded recently at $36.40, down 0.6 percent.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Retail SalesExclusivesautoCars.comJesse Toprak
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!