The economy may be beginning to bounce back, but the past year has changed the perspective of even the wealthiest of consumers. As they make their way back to car dealerships, these consumers are not going for their typical BMWs and Mercedes vehicles. Instead, they’re trading in their high-end models for Buicks and Hyundais.
These brands may be less expensive than their German counterparts, but what many buyers are discovering is that these cars aren’t necessarily “cheaper” when it comes to the comfort and amenities that they provide.
As the economy gets back on solid footing, more affluent car buyers are feeling not-so-affluent as homes values are still down and portfolios have condensed. As a result, companies such as Buick and Hyundai are reaping the benefits. Luxury car buyers demand the amenities, but are weary of the luxury car price tags. Sedans such as the 2010 Buick LaCrosse provide the much needed comforts for a price that’s as much as $20,000 less than comparable German sedans. Aside from the Buick LaCrosse, the Hyundai Genesis is also an appealing luxury sedan that offers available V8 power and a range of electronic and safety features that help make it an incredibly good value.
In addition to moving away from the higher priced brands, consumers are saving money by simply downsizing. For example, even Acura customers are trading in their midsize TLs in favor of the compact TSX model.
While car buyers may be beginning to return to showrooms, the vehicles striking their interest are far different than in pervious years. Even in the premium segment, buyers certainly don’t want to give up the amenities, but they’re choosing to be more frugal nonetheless. Luckily for those buyers that don’t want to sacrifice anything, including their bottom line, there are ample options available.
Despite more attractively priced luxury options, one dealer suggests that if you’re looking for a new Infiniti EX Framingham, you’re not suddenly going to choose a Hyundai because of the lower price tag. But nevertheless, these new vehicles are sending a powerful message to premium brands. And, with so many comparisons between the Genesis and the Infiniti G coupe and sedan, Westborough Infiniti dealerships are expecting branding to play a larger role in future products.
For Hyundai, the Genesis sedan was only the beginning as Hyundai Winston Salem has already encountered high demand for the luxurious Tucson crossover and Sonata sedan. With market share climbing, it seems Hyundai is unstopped as they give consumers much more for their money.
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