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Luxury car brands scrambling to avoid a blue Christmas

DETROIT — When financial markets surge to new records, sales of luxury cars usually rise, too. Instead, October U.S. auto sales reports on Wednesday showed that a collapse in sales of luxury sedans is accelerating. Consumers have gradually shifted over to luxury sport utility vehicles from sedans in the past decade, but the trend — which has occurred in both the non-luxury and luxury sedan segments of the auto market — was particularly pronounced in October. Sales of Daimler AG's Mercedes-Benz S-Class, long a global benchmark for large, premium sedans, plunged 49 percent in October, and are down 24.8 percent for the year to date. General Motors' Cadillac brand said it sold just 779 of its CTS sedans in October. Demand for that car, designed to compete with German luxury sedans, is down nearly 33 percent for the year. "There's still a significant portion of the market that wants a car, but I'm sure there were people who preferred a horse to a car at one point." Cadillac's best-selling model this year is the XT5 compact SUV, which has more than doubled sales from a year ago. The shift within the luxury vehicle market away from sedans toward SUVs of all sizes is forcing some of the most prestigious brands to scramble to add SUV models to their lineups or boost SUV production to meet demand. "In the short term, there will be pressure to add (consumer) incentives, cut production or both," said Cox Automotive analyst Michelle Krebs. "And we just don't see an end in sight to this trend." The Dow Jones Industrial Average has been trading at all-time highs, usually a good sign for luxury sedans, but as major automakers reported new U.S. vehicle sales for October on Wednesday, sales for passenger cars continued their slide while luxury SUV and crossover sales rose again. According to Kelley Blue Book data, in 2007 luxury sedans made up 7.6 percent of U.S. new vehicle sales, while luxury SUVs made up 4.2 percent. Through September this year, luxury SUVs made up just over 7 percent of the market, compared with 4.9 percent for luxury sedans. In the short term, luxury brands could use holiday season sales promotions to clear slow-selling sedans off dealer lots, analysts said. Toyota's Lexus brand said on Wednesday it will launch its "December to Remember" year-end sales promotion for the 18th straight year.

Toyota will roll out solid-state battery EVs globally in a couple of years

GANDHINAGAR, India — Japan's Toyota Motor will in a couple of years globally launch vehicles with solid-state batteries that charge faster and last longer, an executive said on Thursday at an investment summit in India. Solid-state batteries promise to dramatically improve the driving range of electric vehicles (EVs), a key element of a strategic pivot Toyota unveiled in June to make up ground lost to Tesla and Chinese rivals, such as BYD, in the EV race. Last year, Toyota and oil refiner Idemitsu Kosan said they would tie up to develop and mass produce all-solid-state batteries, which they aim to commercialize in 2027 and 2028, followed by full-scale mass production. "We will be rolling out our electric vehicles with solid state batteries in a couple of years from now," said Vikram Gulati, the India head of Toyota Kirloskar Motor. It "will be a vehicle which will be charging in 10 minutes, giving a range of 1,200 kms (750 miles) and life expectancy will be very good". Gulati was speaking at the Vibrant Gujarat Global Summit where one focus of the Indian government is attracting more investments to scale up EV manufacturing capacity in the world's third largest auto market. At the start of the summit on Wednesday, Japan's Suzuki Motor said its Indian subsidiary and Toyota partner Maruti Suzuki would export the group's first battery EV to Japan and Europe — marking the first time for Maruti to export to its parent company's home country. Electric models made up around 2% of India's car sales last year, but the government is targeting 30% by 2030 and India's road transport minister said at the summit he sees annual EV sales in India reaching 10 million vehicles by 2030. On Toyota's plans for solid-state batteries in India, Gulati said the carmaker had various sustainable technology options that would differ based on the country, market and customer preferences. "Right now, for India, flex fuel and ethanol can be a no-brainer right away," he added India's trade department has backed lowering taxes on hybrid vehicles to help the transition to cleaner energy sources, following demands by Japanese carmakers, Reuters has reported. Gulati said the Indian government should consider a carbon-based tax structure for cars, which would make it technologically agnostic and more equitable.  Green Lexus Suzuki Toyota Electric

Lexus is killing off the slow-selling GS luxury sedan

You know that 2020 Lexus GS 350 F Sport Black Line Special Edition we told you about yesterday? As it turns out, it’ll be the last gasp for the midsize luxury sedan, as Lexus plans to cut the nameplate from its lineup. Lexus announced in Japan that it will discontinue the entire remaining GS lineup, including the 467-horsepower GS F performance sedan, after production there ends in August. It also follows the brandÂ’s decision last year to not offer the entry-level GS 300 in the U.S. for 2020. In a statement sent to Autoblog, Lexus said, “We are constantly evaluating model mixes throughout our lineup. In the declining sedan segment, GS family has represented a small amount of sales in the last few years.” Lexus first launched the GS in 1993 and last gave it full update for its fourth generation in 2012, designating it as the first model to get the signature, polarizing spindle grille. Rumors of its eventual demise have persisted for years, with Lexus sitting with a whopping six sedans and coupes at a time when all momentum is on the side of crossovers and SUVs. Last year, the GS represented just 4% of overall Lexus sales in the car segment. Through the first three months of 2020, Lexus sold just 624 GS sedans, a decline of more than 34% year over year. Full-year sales in 2019 were down a whopping 48.8%, at just 3,378. The model saw its best sales year in 2015, when it sold 23,117. The Black Line Special Edition, meanwhile, is limited to 200 examples and are available starting this summer. Pricing isnÂ’t yet available, but in Japan, where theyÂ’re calling it the “Eternal Touring” special edition and offering it in a blacked-out color scheme, Lexus is releasing it on June 1 starting at the equivalent of about $66,080. Related Video: