"December has certainly been a month to remember for dealers over the last two years,'" said Edmunds.com Chief Economist Lacey Plache. "And with a substantial number of new car buyers still coming back to the market after deferring their purchases this summer, dealers have plenty of reason to believe that this December will continue the trend.
"Recent income growth, moderated inflation and improved consumer confidence are all combining to put consumers in a better position to spend."
New-car buyers tend toward a wealthier demographic. So do used luxury buyers and they're doing more shopping lately, too.
Luxury vehicles were the certified pre-owned "Big Movers," at the segment level, and in the list of the top 20 most-viewed vehicles for AutoTrader.com in October.
The majority of consumers consider both new and pre-owned choices when they are searching for their next vehicle, so it is no surprise that we saw a spike in activity around luxury cars on the CPO front in the same month that we saw an increase in new luxury car shopper activity," said Rick Wainschel, vice president of automotive insights at AutoTrader.com. "There are strong signs of pent up demand for luxury vehicles among car shoppers, indicating that despite continuing economic headwinds, there are more consumers willing and able to consider higher end choices."
For CPO luxury cars, it was Jaguar that had the most models to make big moves in October, with the XJ Series moving up 34 spots to No. 174, the XF moving up 30 spots to No. 143 and the XK Series moving up 28 spots to No. 177.
On the segment level, luxury cars came in as the No. 1 CPO segment on AutoTrader.com in October. Out of all the CPO segments in October, luxury cars and SUVs were the only ones to see month-over-month increases in consumer interest. The luxury car segment increased 0.4 share points from September to October, and the luxury SUV segment increased 0.7 share points during the same time.
In looking at the most-viewed CPO vehicles, luxury cars claimed six of the top 20 spots on the list of most-viewed CPO cars in October, more than any other segment represented. The BMW 3 Series, always a favorite among CPO shoppers, took the No. 1 spot again in October, a position it held during the same time last year.
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