Audi Sees Growth in the Luxury Vehicle Market, Even as Sales Plateau
Luxury vehicles sales are stalling in the U.S., but Audi is banking on new vehicles to grow its market share.
Audi is banking on new products to grow its share in the luxury vehicle market, even at a time where sales have stalled. Scott Keogh, president of Audi America, says the luxury market in the U.S. is plateauing. He says 1.8 million luxury cars were sold in 2016, a drop of 1.3%. But Keogh is optimistic Audi will be able to grow its share of the luxury market, thanks to new products. At the North American International Auto Show in Detroit, Audi unveiled its Q8 luxury concept SUV, which includes all-new interior technology and a new design. SUVs now make up 55% of the luxury auto market, according to Keogh. He believes the expected increase in interest rates this year will be passed along to car buyers.
