More luxury car shoppers considered a Lexus than any other brand in the fourth quarter of 2021. But Toyota’s luxury division won that contest in a photo finish, barely beating BMW, with Tesla charging up behind them both.
Kelley Blue Book’s Brand Watch report is a consumer perception survey that also weaves in shopping behavior to determine how a brand or model stacks up with its segment competitors on a dozen factors key to a consumer’s buying decision. Each quarter, Kelley Blue Book produces a separate Brand Watch report for non-luxury and luxury brands. Ford came in first in the non-luxury study – the first time that a brand other than Toyota has won in more than four years.
Tesla Still Outsold Them Both
Consideration doesn’t always line up with sales because most buyers look at several vehicles before deciding.
Despite its third-place finish, Tesla had the last laugh – Americans bought more vehicles from Tesla than any other luxury automaker last quarter.
Best-Seller Slipped
Among luxury shoppers, 20% shopped for Lexus and for BMW, with Lexus pulling ahead of its German rival by less than a tenth of a point. BMW had held the top spot in the luxury division for more than three years, but Lexus narrowly edged it out last quarter. Tesla came in third at 18%.
Lexus won the consideration battle even though its top-selling product underperformed. Its bestselling RX SUV slipped in shopping consideration, while the BMW X5 had a 42% gain. The BMW 3 Series also ticked up, earning a look from 13% of luxury shoppers.
SUVs Taking Over the Luxury Segment
Yet luxury SUVs are king. SUVs outsold cars and trucks combined last year. But the luxury segment had been slower to move away from sedans than the affordable classes. That’s no longer true, as a record 70% of luxury shoppers considered an SUV. Just 49% looked at a car.
The Tesla Model Y ranked as the most-shopped luxury SUV for the first time, ousting the Lexus RX, which spent two years in the top spot. The RX was No. 2, followed by the Acura MDX, BMW X5 – which rejoined the Top 5 list after falling off in the previous quarter – and Acura RDX, also making a return showing. The Buick Enclave and Cadillac XT5 dropped from the Top 5 most-shopped SUVs, leaving Tesla as the only domestic model on the list.
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February 15, 2022 at 10:44PM
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Lexus Knocks BMW From Spot As Luxury Brand Americans Consider First - Kelley Blue Book
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