Bigger is better for American car buyers, as is clear from the big luxury SUVs on display at the New York International Auto Show.
It is also where the money is. “Big luxury really brings profits to these luxury car companies,” said Edmunds.com senior analyst Jessica Caldwell. “Anything that’s a large SUV, or anything big, is going to be the catalyst for the profit margins that we’re seeing.”
Adding to the allure of luxury SUVs are the cheap gas prices that have stayed so low for so long. Caldwell said high gas prices are a distant memory for car buyers. That extra cash comes in handy when paying the higher prices for these vehicles.
Among the big brand names promoting their offerings at the Jacob Javits Convention Center in New York March 25-April 3: BMW, Cadillac, Infiniti and Mercedes, as well as Jaguar with its F-Pace.
Ford Motor CEO Mark Fields already showed off a Lincoln Navigator concept car during a media preview at the auto show, saying, “We’re off to the strongest sales start to the year that Lincoln has enjoyed in eight years and our strongest SUV sales in 15 years.” Fields was joined by the brand’s celebrity representative, actor Matthew McConaughey.
Even Maserati is getting into the luxury SUV business. The Levante will be its first SUV, arriving in the U.S. this fall. Its pricing will begin at just over $72,000.