CINCINNATI, Oct. 25 /PRNewswire/ -- Contrary to what many would consider conventional wisdom in today's economic climate, luxury cars are gaining traction in the marketplace. Tier one brands BMW, Lexus, and Mercedes have had sales increase in 2010. Automotive analysts note that this trend may be due to better lease deals.
Also, a few years ago 17 million new vehicles were sold nationwide. This year projections are around 12 million. Used vehicles have been in short supply as a result of fewer new vehicles being sold. This is important because shortages drive up prices on used vehicles ultimately enhancing residual values. Higher residuals values equate to lower lease payments making leases more attractive. This is especially evident in the luxury car segment where lease penetration is much greater.
Percentage increase in luxury vehicle sales year to date 2010 in comparison to same period for 2009 (Source Automotive News October 4th, 2010):
Audi |
19.1% |
|
BMW |
8.4% |
|
Mercedes |
18.0% |
|
Jaguar |
11.0% |
|
Land Rover |
17.5% |
|
Lexus |
8.0% |
|
Infiniti |
19.9% |
|
Porsche |
19.0% |
|
Other factors have contributed to upward trends in luxury leasing, as well. Lower lease payments in relation to other financing methods mean that consumers have the ability to drive more expensive vehicles. Manufacturers have increased leasing incentives by more than $1000 in 2010 when compared to 2009 as reported by Automotive News. Luxury offerings historically are where new features and technologies are first introduced. 36 month leases permit consumers to stay on the cutting edge and remain under warranty during the life of the lease.
Swapalease.com's EVP of Operations, Scot Hall, noted, "The upward trend we are witnessing in luxury leasing, as well as non-luxury leasing for that matter, is great news for Swapalease.com because many will be part of our inventory in the near future."
For more information about Swapalease.com or how to exit your lease early, call 866-SWAPNOW or visit www.swapalease.com.
About Swapalease.com:
Headquartered in Cincinnati, Ohio, Swapalease.com is the world's largest automotive lease marketplace and the pioneer in facilitating lease transfers online. First conceptualized in 1997, Swapalease has evolved into a leading automotive consumer online destination servicing all aspects of the automotive leasing lifecycle including education, research, pricing, acquisition and lease transfer. For more information, please call 866-SWAPNOW (866-792-7669) or visit www.swapalease.com.
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Scot Hall
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=66699
SOURCE Swapalease.com
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