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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.

Optimistic Lexus bumps US sales target higher

Last year Lexus sold 244,166 cars in the US, slotting into third place in the luxury segment behind BMW and Mercedes-Benz. Earlier this year Lexus said its target was 260,000 units in the US (which would still put it behind BMW's and Mercedes' numbers from last year), but Automotive News reports that it has raised its upper outlook to 270,000 cars.
The half-year pace hasn't been enough to make either number, but Lexus is gunning for a 15-percent gain in IS sales behind the arrival of the 2014 model, and this is also the first full year of sales of the new ES and LS. Lexus will most likely end the year in third place in the luxury segment behind BMW and Mercedes again, even if it does sell 270,000 units, but has said its prime directive is "good, steady growth."

Toyota's fuel pump recall now covers nearly 6 million vehicles globally

Toyota expanded a worldwide fuel pump recall to a total of 5.84 million vehicles for a defect that could cause the part to fail. In the United States, the total number of vehicles involved in this safety recall is now approximately 3.34 million vehicles. On January 13, 2020, Toyota announced a safety recall for 695,541 Lexus and Toyota models. In March of 2020, the Japanese automaker added an additional 1.1 million vehicles to the previous recall. Now, the largest Japanese automaker adds another 1.52 million U.S. vehicles to the recall that was first announced in January and covers numerous models built between July 2017 through September. Here is a full list of vehicles that are now included in the expanded recall: 2013-2015 Model Year Lexus LS 460; 2013-2015 Model Year Lexus GS 350; 2014 Model Year Toyota FJ Cruiser, Lexus IS-F; 2014-2015 Model Year Toyota 4Runner, Land Cruiser; Lexus GX 460, IS 350, LX 570; 2015 Model Year Lexus NX 200t, RC 350; 2017 Model Year Lexus IS 200t, RC 200t GS 200t; 2017-2019 Model Year Toyota Highlander; Lexus GS 350; 2017-2020 Model Year Toyota Sienna and Lexus RX 350 2018-2019 Model Year Toyota 4Runner, Land Cruiser; Lexus GS 300, GX 460, IS 300, IS 350, LS 500h, LX 570, NX 300, RC 300, RC 350; 2018-2020 Toyota Avalon, Camry, Corolla, Sequoia, Tacoma, Tundra; Lexus ES 350, LC 500, LC 500h, LS 500, RX 350L 2019 Model Year Toyota Corolla Hatchback and Lexus UX 200 2019-2020 Model Year Toyota RAV4 Toyota said the vehicles that have a fuel pump that may stop operating and could result in a vehicle stall, and the vehicle may be unable to be restarted. Dealers will replace the fuel pump with an improved version. Toyota's customer support is available to owners with affected vehicles by calling the Toyota Brand Experience Center at 1 800 331-4331. Related Video: Recalls Lexus Toyota Truck Coupe Crossover SUV Sedan