Nobody's Buying Fancy Cars

audi car china luxury

Luxury car-makers have been waiting a long time for a rebound. Judging from August sales numbers, the wait goes on.

As The Wall Street Journal notes, the “soaring Chinese market failed to offset anemic demand on their European home turf, and an eagerly-awaited market rebound didn’t materialise.”

And like the U.S., cash for clunkers programs in Europe boosted sales of small, fuel efficient cars, not big, powerful luxury ones.

The numbers:

  • BMW AG , the world’s best-selling premium automaker, posted an 11.3% sales decline at its core brand to 75,689 cars last month, but voiced hope that market conditions would ease in coming months.
  • Daimler AG’s Mercedes-Benz brand, the world’s second-bestselling luxury nameplate, saw sales contract by 12% in August compared with the same month last year to 66,200 cars. In the January-to-August period, Mercedes-Benz’s sales were down 18% compared with the same period last year at 632,700 vehicles.
  • After eking out two monthly sales increases in June and July despite a shrinking market, Audi AG’s sales edged down 2.7% on the year in August to around 65,900 cars.
  • Year-to-date, sales at Volkswagen AG’s premium brand were down 7.5% compared with the same period last year at around 616,850 cars

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