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Luxury Car Market Tries To Lure Buyers

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Luxury Car Market Tries To Lure Buyers

Business

Luxury Car Market Tries To Lure Buyers

Luxury Car Market Tries To Lure Buyers

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Luxury car sales are down 32 percent, according to the Detroit Free Press. Dealers are offering more incentives and they're even pushing fuel efficiency. Cadillac sales are down nearly 50 percent. Cadillac is having an especially hard time because of GM's pull back from the financing business. One dealer tells The Wall Street Journal that leasing is now only 5 percent of his sales, and it used to be 65 percent.

STEVE INSKEEP, host:

NPR business news starts with Cadillac sales struggling.

(Soundbite of music)

INSKEEP: It is, of course, the brand that's synonymous with luxury. You can have a Cadillac appliance, so to speak, or the Cadillac of health care plans. But the Cadillac of Cadillacs is in a little bit of trouble. GM is trying to improve Cadillac sales at a time when the market for luxury cars is tanking.

According to the Detroit Free Press, luxury car sales have dropped 32 percent, and for Cadillac it's even worse. Sales are down by nearly half. Luxury carmakers are now offering more incentives, and they're even pushing fuel efficiency.

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