New-Vehicle Sales Warm Up with Summer Weather
While sales are strong across most of the market segments, the luxury, or premium, vehicle segments have posted weaker deliveries so far this month, according to data collected during the first two weeks of the month. Premium vehicle deliveries from the dozen premium brands that include BMW, Cadillac, Lexus and Mercedes-Benz, among others, account for just 11.7% of the new retail-vehicle sales transactions that are tracked by J.D. Power's Power Information Network(R) (PIN). That's down from a 12.9% luxury share of retail sales in June 2012.
The good news, however, is that many new premium models will be introduced in the market later this year and those new models should help boost this segment's sales through the second quarter of next year, according to John Humphrey, senior vice president of the global automotive practice at J.D. Power. He also points out that demand is still robust since the average price of premium vehicles in June is $47,000, which is nearly 4% higher than in June 2012, according to PIN data.
Through the first 13 selling days of June, the average transaction price of new vehicles is averaging $28,900--the highest ever for the month of June, based on PIN data.