Automotive
Luxury Consideration Movements
We don’t care about “luxury,” just give us a car that turns the radio down when we are close to our destination so we can read the mailboxes.
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We know there has been some debate, but according to data measuring luxury car shopper interest, Tesla is indeed a luxury brand. According to the same data, Tesla is less popular among luxury shoppers today than in Q3 2022.
In Q4 2022:
- Tesla slid 5.03% to rest at around 9% of luxury shopper consideration.
- BMW climbed 0.63% to 22%.
- Lexus held second at 19%.
- GM's Cadillac drooped 0.67% to third at 18%.
Another notable piece of data from Kelly Blue Book's Q4 report is the rise of SUVs as sedan popularity wanes.
- SUVs shopping rose 1% to 69%.
- Sedans dropped from 53% to 51%.
While listed 7th in luxury brand interest, Buick holds as the most considered luxury model with the Buick Enclave. Cadillac Escalade slipped to #2 on the list.
