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RESEARCH REPORT: US LUXURY CARS MARKET 2013: NOW AVAILABLE AT MARKET-RESEARCH-REPORTS.BIZ Domestic luxury carmakers Cadillac and Lincoln are attempting to reclaim their former glory. Unfortunately, neither will get very far without the help of Millennial luxury car buyers who, as it stands now, seem more inclined to purchase European luxury makes.
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Table of Content What you need to know
Definition Data sources Sales data Consumer survey data Direct marketing creative Abbreviations and terms Abbreviations Terms
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Executive Summary
The market Figure 1: Total US unit sales and fan chart forecast of luxury cars, 2008-18 Market factors Leasing critically important to new luxury car sales Figure 2: New lease share of new vehicle financing, 2009-13 Upper-income households impact luxury car sales Figure 3: Household and nonprofit organization net worth, 1951-2013 Stabilizing housing market helps boost car sales Figure 4: Median existing home prices vs. new luxury car sales, 2008-12 Key players Top 10 luxury brands control more than 85% of luxury car market
Issues and Insights
How to get more Millennial buyers to consider domestic luxury vehicles? The issues The implications How can all luxury carmakers attract more women? The issues The implications Trend Applications Trend: Minimize me Trend: Greenfluencers Mintel Futures: Brand Intervention
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Market Drivers
Key points Leasing and financing critically important to new luxury car sales Figure 14: New lease share of new vehicle financing, 2009-13 Figure 15: Average new and used vehicle financing terms, 2012 and 2013 Stabilizing housing market to positively impact luxury auto sales Figure 16: Median existing home prices vs. new luxury car sales, 2008-12 Number of upper-income households impacts luxury car sales Figure 17: Historical median household income, adjusted for inflation, 1980-2012 Figure 18: Real disposable personal income per capita (2009 adjusted dollars), 1980-13 Figure 19: University of Michigan consumer sentiment, 2007-13 Increased product cadence will boost luxury car demand
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Innovations and Innovators
Mercedes-Benz offers in-cabin perfumes through ventilation system Figure 45: 2014 Mercedes-Benz S-Class’s Cabin fragrance system Mercedes-Benz S-Class first car capable of steering itself on the highway Figure 46: 2014 Mercedes-Benz S-Class Distronic Plus with Steering Assist Video Bentley launches furniture series to help broaden brand recognition Figure 47: New furniture range from “Bentley Home”
Marketing Strategies
Overview of the brand landscape Strategy: Turn amenities into necessities Figure 48: Mercedes-Benz, “Control” Commercial, October 2013 Figure 49: Mercedes-Benz, Chicken Commercial, September 2013 Strategy: Revitalize the brand image Lincoln Figure 50: Lincoln Motor Company, Lincoln Motor MKZ Print Advertisement, October 2013 Figure 51: Lincoln Motor Company, “Luxury Uncovered,” October 2013 Lexus Figure 52: Lexus, “Color Shift” TV Spot, June 2013 Strategy: Targeting a younger demographic Acura
Social Media
Key points Key social media metrics Figure 57: Key performance indicators, October 2013 Market overview Brand usage and awareness Figure 58: Brand usage and awareness of luxury car brands, August 2013 Interaction with brands Figure 59: Interaction with luxury car brands, August 2013 Online conversations
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