There’s no doubt that British companies are the most cost-conscious, with companies like Jaguar Land Rover, Aston Martin, BMW and Jaguar Land vehicles accounting for around 70 per cent of all the cars sold in the UK.
However, according to a new report by research firm Polygon, this is far from the case in the US.
“We found that the biggest US car companies with cars that cost more than £35,000 (around $52,500) sell around 80 per cent fewer cars than the companies that sell cars with more affordable price tags,” the report’s author said.
“The largest US companies are now moving away from the model of high-priced luxury vehicles in favour of cheaper, lower-cost options like electric cars.”
The report, which looked at sales figures for the UK, US, Germany, Japan, Canada and China, found that American car companies had increased their car sales by around 17 per cent in the past three years.
In 2018, they sold around 5.5 million vehicles, a number which is expected to double by 2021.
But the number of sales that have increased by the most by the end of 2019 is only around 4.3 million, leaving the biggest American car manufacturers in the dust.
The report, titled ‘The US Car Industry: Why It’s Growing at the Expense of Its Drivers’, was written by the UK’s Roads and Maritime Research Institute (RMRI) and conducted by consultancy firm Cargill.
It found that a significant proportion of the cars on the market in the United States are bought by consumers with “very low incomes”, and that there is a clear pattern of the buying habits of these consumers being very different to those in Britain.
“A lot of the money is coming from the wealthiest households in the country and that means it’s going into luxury vehicles rather than high-end vehicles,” RMRI’s CEO, Tim Rafferty, told Polygon.
“And in a lot of cases they’re not even buying luxury cars in the first place.”
“It’s also important to understand that these are consumer decisions and they’re driven by the cost of living in a particular market.”””
The fact that people have an interest in a certain car is just part of the market. “
It’s also important to understand that these are consumer decisions and they’re driven by the cost of living in a particular market.”
“The fact that people have an interest in a certain car is just part of the market.
That’s not going to happen in the traditional car industry. “
What’s happening in the market is that people who have lower incomes are going to go to these luxury car companies.
The findings are likely to be a wake-up call for US car makers. “
I don’t think it’s as simple as a simple rise in the price of a car, because that’s not what’s driving people to buy high-value cars in general.”
The findings are likely to be a wake-up call for US car makers.
“For the first time ever, we’ve got an industry where the consumer has become the consumer,” said Rafferts partner David Kallis.
“In other words, the consumers don’t just want to buy luxury cars but they want them to have all the bells and whistles and features.”
It’s not just the people who buy luxury vehicles that are benefiting from this, but it’s also the consumers who are benefiting.””
I think there’s a lot to be done in terms of the marketing and advertising of these vehicles, the marketing around their price points, the design of their vehicles,” he said.
What is a luxury car?
The report also looked at the average price of new cars sold, which was $31,711 in 2018, and the average cost of an average US car, which ranged from $29,923 to $35,907. “
A hatchback is a high-performance car that is not the most desirable of cars,” Kallys said.
The report also looked at the average price of new cars sold, which was $31,711 in 2018, and the average cost of an average US car, which ranged from $29,923 to $35,907.
“There’s no question that the average car sold in 2018 is much higher than what it was in 2017,” said Kallises.
“You have luxury brands like Bentley, Aston Martins and Mercedes, and you have high-volume brands like BMW and Ferrari, and all of these are competing for the market.”
But despite all this competition, Kallias believes that the US has still not really