Audi, BMW and Mercedes-Benz, the three largest luxury car manufacturers in the world are stepping up their efforts to increase sales this year. The luxury car makers achieved record sales in 2013. The gains were fueled by growth in China and North America, and they are preparing to meet the increased demand expected this year. Bloomberg reported that while Audi is all set to launch 17 new or revamped car models, even third-placed Mercedes-Benz is leaving no stone unturned to overtake the no. 1 luxury car manufacturer, BMW. BMW has held on to its top slot in global luxury car sales for nine straight years.
The Bloomberg reporter further revealed that Audi, a subsidiary of the auto giant Volkswagen Group, has earmarked more than $30 billion for production expansion and technological development efforts to be spent in the next five years. A part of this will be spent in developing global manufacturing capacity, with new factories coming up in Brazil and Mexico. The expansion drive of Audi has a two-fold objective. Apart from expectations of overtaking BMW from its top spot as industry leader in luxury car segment, Audi is projected to propel its parent company Volkswagen towards achieving the highest sales in the entire auto industry by 2018.
Currently, the highest global sales in the auto industry is achieved by Toyota Motor Corp. Volkswagen is in an upbeat mood and confident that it will achieve higher sales as its profits in the fourth quarter of last year rose by more than 18 percent, with record sales posted by Audi. This allowed the company to spend money on the development of new models and expanding production with factory units in different regions of the world.
Boost in sales of used cars
Report from Daily News revealed that there was a boost in used car sales in 2013 and it is expected to grow even further this year. The number of used cars sold in the US last year was 15.6 million and it is expected to reach to 16 million in 2014.
It is interesting to note that a number of Toyota cars are the favored choice of used car buyers. Toyota is renowned for its small cars, SUVs and sedans that are as spacious and comfortable as the more expensive luxury cars. Furthermore, as auto dealers and online auto auction sites make the task of buying second-hand cars easier, the growth in the used car market is all set to cross new milestones this year.