A study done by Cox Automotive showed what brands luxury car shoppers are going for. Unsurprisingly, BMW topped the list.
The study, done by Cox subsidiary Kelly Blue Book, is called the Brand Watch Report. Undertaken every quarter, this latest study focuses on Q3 of 2021 and shows which brands either increased or decreased when coming across car buyers shopping radar.
While BMW topped the list with 19 per cent of shoppers considering the brand, that’s a four point tumble from Q2 of this year.
BMW barely held onto the top spot. Shopping consideration for the brand tumbled by a hefty 4 percentage points from the previous quarter, the biggest drop among luxury brands. Of all luxury vehicle shoppers, 19% considered a BMW, down from 23% in the previous quarter and down from 22% in the year-ago quarter.
While shoppers considered the brand, KBB says models like the 3 and 5 Series along with the X3 and X5 fell off the list of the most-shopped luxury vehicles. Lexus is right on BMW heels with 19 per cent of buyers considering the brand. Mercedes, Audi, and Tesla are right behind at 17, 16, and 15 per cent respectively.
What about the brands buyers don’t want? The brands may not surprise you. Of the 20 brands on the list, 13 were under 10 per cent. Buick is the first brand that dips under 10 per cent, losing one point from the previous quarter. Lincoln is right behind, which says a lot when an actual luxury brand is trailing an entry luxe brand. Land Rover, Infiniti, Jaguar, Alfa Romeo, and Maserati bring up the bottom rung of the list with numbers under five per cent.
At the very bottom are newcomers Rivian, Lucid, and Polestar. The brands are fairly new which is no which could explain their low percentage points. Rivian and Lucid each had one per cent of luxury buyers considering it. And Polestar, who’s been on the market since late 2019, had no one consider it.