Sales of Luxury Cars Slumped in January →
online.wsj.com
By Christoph Rauwald
FRANKFURT — The world’s top manufacturers of premium cars in January were hit by a sharp slowdown in sales, a sign that the economic downturn is having an impact on more-affluent motorists.
Historically, makers of premium cars have felt less impact than volume manufacturers from a slump in demand because their customers tend to be wealthier.
But with the turmoil on financial markets and economic woes spreading, the lucrative premium segment is increasingly feeling the pinch, too.
“Current market conditions remain extremely challenging,” BMW AG executive board member Ian Robertson said.
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