After years of penny-pinching because of general economic conditions and high gas prices, the American consumer might be ready to make a change when it comes to buying a car. Data shared by AutoTrader.com shows that luxury cars and SUVs are high on the interest list these days. As a result, auto dealers may adjust their promotional strategies.
AutoTrader analysts say that their monthly reports often highlight trends. And, in October, a new trend emerged as several luxury models came to the top of the Big Movers list. Land Rover had 3 SUV models rise significantly on the list: Range Rover Evoque, Range Roger Sport and LR4. Consumers have also been checking out the luxury car market. On AutoTrader lists, several luxury car models were being watched by consumers: Hyundai Genesis, Mercedes Benz C‑Class, Cadillac CTS and the BMW 3 and 5 Series.
But not everyone can afford to buy a luxury car or an SUV. AutoTrader analysts are looking for the mid-sized car segment to improve going into 2012. The Toyota Camry and Honda Accord suffered in 2011 because of the disaster in Japan. In both cases, production is normalizing. As a result, demand will pick up in the sector. But Toyota and Honda will have to compete with Volkswagen which has a redesigned Passat and the Kia Optima.
Auto dealers are likely watching these shifts in the market and may make changes to their ad campaigns.[Source: New Car Insights Report. Autotrader.com. Nov. 2011. Web. 14 Dec. 2011]