Lexus Reaches for Luxury Cachet

Shine wears off top end of auto market as downturn bites

(NEWSER) - Sales of luxury cars are dropping as fast as their downmarket counterparts, the Wall Street Journal reports. Sales of top-end vehicles plunged 30% last month, spelling major trouble for carmakers who had been relying on fat profit margins on luxury cars to offset falling demand for mass-markets vehicles. Analysts expect demand to keep falling as top execs continue to lose their jobs. More»

(NEWSER) - Rolls-Royce has good news for cash-strapped millionaires: They won’t have to condescend to buy a Bentley, Time reports. The automaker, known for its gigantic limousines, is about to release the Ghost, a short, sleek four-door sedan priced at a mere $245,000. That’s a sight lower than the $380,000 the company’s flagship Phantom sells for, but up from Bentley’s Continental line of low(er)-priced luxury cars. More»

12-MPG, $115K sports car sees 20% US growth so far in '08

(NEWSER) - Buoyed by wealthy, middle-aged men who can afford to defy high gas prices and a plummeting economy, sales of Maserati luxury cars are up in the US this year, Bloomberg reports. Common brands like Lexus and BMW have seen sales fall, but the very rich don't skimp when they see something that will stand out, analysts say. More»

Forbes runs down the luxury brands we most desire

(NEWSER) - Hong Kong and the United Arab Emirates may actually buy the most designer goods, but when money is no object, we’ve all got expensive tastes. One research group asked 25,000 consumers to forget about price tags and name the luxury brand they covet most. Forbes runs down the top 10:

1. Gucci
2. Chanel (tied)

Light-vehicle sales down 9% over Dec. '06, and off 12% for all of 2007

(NEWSER) - Ford Motor Co. reported a 9% dip in US sales of cars and light trucks between last December and December 2007, capping off a dismal year for the company and the auto industry, the Wall Street Journal reports. Ford, which is third in US auto sales behind Toyota and leader General Motors, saw light-vehicle sales fall 12% in 2007 overall. More»