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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.

NHTSA approves hybrid rearview mirror display in Cadillac CT6, Bolt EV

The Chevy Bolt EV prototype doesn't just have a fancy new all-electric powertrain. Just outside the driver's line of sight is a newfangled rearview mirror, one that can turn into a screen that shows a moving image from the rear-facing camera. Speaking to NPR's Robert Siegel yesterday, Department of Transportation secretary Anthony Foxx said that NHTSA has now approved this type of mirror/screen for use in vehicles. According to a letter from NHTSA to General Motors, GM will likely use this Full Display Mirror first in the 2016 Cadillac CT6 before coming to the Bolt. In its letter to GM, NHTSA said that the Full Display Mirror will only qualify as a standard rearview mirror as long as there are normal side mirrors in place. In other words, don't expect to see cameras and screens replacing all the mirrors in a motor vehicle just yet. @AutoblogGreen @NPR - #NHTSA has OK'd GM rear-view system that can switch between mirror & camera views. pic.twitter.com/6CBeIit10v — Anthony Foxx (@SecretaryFoxx) February 22, 2016 The Full Display Mirror was developed by Gentex, which has long worked with GM. The FDM debuted in 2014 and some people hoped it would also make its way into the Tesla Model X. Gentex, which also makes auto-dimming mirrors, says that it has "set out to develop the technologies and core competencies necessary to manage this evolution of the rearview mirror." The Chevy Bolt EV will start at $37,500, before incentives. The 200-mile EV will go into production late this year for likely sale in early 2017. Related Video:

2020 Cadillac CT5 pricing is out, and it's cheaper than the Germans

We know pretty much everything there is to know about the 2020 Cadillac CT5 sport sedan, and today Cadillac tells us its price. Cadillac isn’t giving us everything, though: all we get for now is pricing for the four-cylinder models. The cheapest CT5 youÂ’ll be able to lay your hands on starts at $37,890. That chunk of change nets you a CT5 Luxury with rear-wheel drive. The base four-cylinder is a 2.0-liter turbocharged engine making 237 horsepower and 258 pound-feet of torque. If we peruse current Cadillac CTS and ATS pricing, this puts the CT5 under even the base price for a 2019 ATS. The current CTS is way above the CT5, starting at just under $48,000. So in comparison to the cars itÂ’s half replacing, the CT5 price already looks much more attractive. Cadillac has two trim upgrades from the base Luxury trim. A CT5 Premium Luxury will run you $41,690, while the Sport is an even pricier $42,690. You get some additional features for your money, with the Sport being more performance-oriented for those wanting it. All CT5 Sports will be equipped with upgraded Brembo brakes, different 19-inch wheels, sport seats, sport steering wheel with magnesium paddle shifters and unique trim inside and out to differentiate itself from the Luxury.  All-wheel drive is also available for any of the trim levels. In Sport and Luxury trims, all-wheel drive is a $2,600 premium, but youÂ’ll have to fork out $3,090 more in the Premium Luxury trim to get power going to all four wheels. Cadillac says the Cold Climate Package is included automatically with all-wheel drive, and that includes heated front seats plus a heated steering wheel. The base price for the CT5 undercuts the base price of others in its segment like the new 3 Series ($41,245), A4 ($40,195) and C-Class ($41,400). It falls short of beating the Genesis G70 out, though, as that fantastic little car starts at $35,895. WeÂ’ll note that the CT5 is slightly larger than all of these vehicles, but close enough that folks should be cross-shopping them. As of today, we can safely say the CT5 is looking like a solid value versus its competition. WeÂ’ll see how our thoughts evolve after driving it for the first time, and after pricing for the V6 rolls in.