Mon 7 Apr 2008
Suddenly the rich aren’t getting richer — and luxury car dealers are joining other high-end retailers in feeling the pinch.
Adding to a turnabout in once-resilient upscale goods, most luxury car brands saw sales drops last month.
Mercedes-Benz softened 3.7% compared with March last year, Autodata reports. BMW fell 8.7%, and Lexus plummeted 13.6%.
Overall, luxury vehicle sales are off almost 13% this year.
Purveyors of the finer things in life are finding their well-heeled customers are caught in the same economic riptide tugging at the less well-off.