| > | | | | substantial layoffs. |
| With the recession dramatically influencing auto sales, it | | | | While widespread layoffs are occurring, and wealthy |
| isn’t only the Detroit Big Three, or the Japanese | | | | types being forced to forgo lucrative bonuses at the |
| Big Three, hurting for more sales. Potential buyers of | | | | very least, it’s no wonder why premium car |
| premium auto brands are also thinking twice about | | | | sales have been hit hard. But while some dealerships |
| buying new cars. The hottest, priciest, and most | | | | may be struggling to get by, others such as Denver |
| luxurious cars have also faced the wrath of a shaky | | | | Land Rover dealers have the luxury of having a |
| economy. Even the most prized brands have faced | | | | long-established business and a well-known name to |
| falling sales. But it isn’t just autos either. | | | | get by while sales nationwide suffer. |
| Consumers are simply staying away from premium | | | | Although premium new car sales have been shaky at |
| products across the board. | | | | best, there is a silver lining for some. Premium used car |
| At the first sign of slipping car sales, many assumed | | | | sales among New Hampshire Volvo dealers and |
| that the luxury car market would be unharmed. It was | | | | Philadelphia used car dealers have actually increased. |
| expected that wealthy buyers would not be subject to | | | | Mercedes Benz Pittsburgh says luxury buyers |
| the adverse conditions that have kept consumers | | | | don’t want to give up the premium brand, but |
| from visiting Chevrolet, Ford, or Toyota dealerships. | | | | they do want to spend the normal gobs of cash to get |
| Unfortunately, the assumption was not accurate, as | | | | it. The automotive market in general is in a dismal state, |
| luxury car sales, according to Autodata, have fallen | | | | and there’s more to it than just building the |
| about 19 percent this year. From Lexus, to BMW, to | | | | wrong cars. Many claim that the biggest problem with |
| Mercedes-Benz, steep losses have been felt, says | | | | the Big Three is that they have produced the wrong |
| one Acura dealer Pennsylvania, as fewer buyers can | | | | types of cars. Yet at Los Angeles harbor, loads |
| afford the bells and whistles that come with these | | | | premium cars remain unsold and awaiting shipment. |
| luxury brands. Even the top echelon of premium | | | | Luckily for premium automakers, they have the cash |
| brands, such as Bentley and Aston Martin, have also | | | | to get by. Unfortunately, like the Big Three, many |
| faced global sales slump, which has also fueled | | | | premium dealers may not have that luxury. |