This week, the city of Detroit is treated to luxury cars being displayed at the North American International Auto Show. Different car manufacturers have set to show off their latest car models equipped with new technologies and the most stylish designs.
Already on display at the floor show range from a Bentley cabriolet to a new Corvette, new Audies, new BMWs, to new Cadillacs among others. I think it’s quite ironic that despite the economies of the US and countries in Europe at present, car manufacturers are still banking on these luxury cars.
But then car sales in the US are expected to improve this this by 5 to 10 percent at least. There is hope that the US economy will thrive and the growing market in China will help boost the sales of these car companies.
Unlike before, the luxury cars being introduced at the show seem to be targeted for the younger generation. No longer these luxury brands are mainly for the rich adults–the parents. Even the younger rich people have money to buy these expensive cars.
Ford, General Motors, and Chrysler–the Detroit Three carmakers– are doing well again after many years of experiencing the pains of recession in the US. Restructuring within the businesses have definitely helped them and we’re more positive sales will grow this year. Meanwhile, the European and Asian car manufacturers are also being aggressive in their investments in the US market because they sell. However, China, which is the world’s largest market, so a slowdown last 2012, but is still expected to grow by 5 or 6 percent only this 2013.