Luxury, sports cars in Detroit spotlight as sales boom

  • Mira Oberman/ AFP, AFP, Detroit
  • |
  • Updated: Jan 17, 2013 11:40 IST
  • 2014 Jeep Compass

    The 2014 Jeep Compass is introduced at the 2013 North American International Auto Show in Detroit, Michigan. AFP PHOTO/Stan HONDA

  • Chevrolet Corvette

    The 2014 Chevrolet Corvette Stingray debuts before the start of the media previews at the North American International Auto Show in Detroit. (AP Photo/Paul Sancya)

  • interior of the

    The interior of the new Corvette Stingray is displayed after its unveiling in Detroit on the night before press days at the North American International ...

  • Corvette Stingray

    The rear trunk hood is opened to highlight the trunk space of the new Corvette Stingray after its unveiling in Detroit, the night before press ...

  • Corvette Stingray

    Rearview of the redesigned 2014Chevrolet Corvette Stingray, which was introduced the night before press previews start at the 2013 North American International Auto Show in ...

  • GM North America

    President of GM North America, and the redesigned 2014Chevrolet Corvette Stingray introduced the night before press previews start at the 2013 North American International Auto ...

  • Mercedes-Benz

    Mercedes-Benz introduces the 2014 CLA at the North American International Auto Show in Detroit, Michigan. The auto show will be open to the public January ...

  • Amy Heidemann

    Karmin's Amy Heidemann performs at the launch of the Mercedes CLA class car at a press event  on the eve of the 2013 North American ...

  • Mercedes Chairman

    Mercedes Chairman of the Board Dr. Dieter Zetsche poses for a photo at the launch of the company's CLA class car on the eve of ...

  • Coupe Concept

    The BMW 4 Series Coupe Concept appears on display at media previews for the North American International Auto Show in Detroit.  (AP Photo/Paul Sancya)

Luxury and sports cars will be in the spotlight when the Detroit auto show opens Monday amid booming sales and renewed optimism as the US economy rebounds from a deep downturn.

 "The mood is going to be pretty good," said Dave Sergeant, an analyst with JD Power. "The industry is coming off a reasonably good year and this year should be even better."

 US sales are expected to rise to between 15 and 16 million vehicles this year after jumping 13 percent to 14.5 million vehicles in 2012, the biggest yearly gain since 1984.

 The Detroit Three carmakers are raking in huge profits again after years of painful restructuring and a renewed focus on the product side of their business.

  Their Asian and European counterparts are also investing heavily in the United States as they jostle for position in the highly competitive market and look for a place to grow sales amid a slowdown in China and Brazil and the collapse of European demand.

"The product is the best consumers have seen in a long time," Jesse Toprak, an analyst with the automotive site TrueCar.com, told AFP.

GM's new Corvette was the most hotly anticipated and select journalists were given a sneak preview at a lavish preview Sunday night.

The muscular and sculpted Corvette Stingray shares a name with the iconic 1963 model but is an entirely new vehicle, sharing only two parts with the previous generation Corvette.

"The soul of our company is sitting right here in Corvette," GM North America president Mark Reuss said.

"This car is the reason I work at GM."

Daimler also offered a sneak peak at an entirely new car, the compact, stylish -- and lower priced -- Mercedes CLA coupe which is aimed squarely at the youth market.

"The CLA is a style rebel," Mercedes design chief Gordon Wagener said.

"The dynamic design idiom is manifested in breath-taking proportions, muscular, flowing contours and sculptural surfaces."

Both vehicles will compete with luxury sports cars from Audi, BMW and a new muscle car from specialty carmaker Shelby once the show officially starts Monday.

Pickup truck fans will also have plenty of new models to feast their eyes upon, with the new Chevy Silverado and a concept (or pre-production) truck from Ford ahead of the 2015 launch of the next version of its top-selling F-series.

Honda will be testing out a concept for a smaller sport utility vehicle, as will Ford's luxury Lincoln brand. There will be plenty of new hulks on the floor as well, especially from Chrysler's Jeep and Dodge brands.

And even the more down-market vehicles are going to be decked out with features that were once reserved for luxury brands, like collision avoidance technology and heated side mirrors.

"Those features tend to be fairly profitable because once they get into the mass market they're not that expensive to install and consumers will pay fairly well for them," said Jeremy Anwyl, vice chairman of automotive site Edmunds.com.

Drivers looking for improved fuel economy will have a wide range of options as automakers push hybrids, diesel and electric vehicles, and boost the efficiency of standard gasoline engines ahead of upcoming tough new government standards.

But with hybrids and other alternative powertrains still only making up about three percent of the US market, carmakers are going to have to work harder on their green car pitches.

There is hope that younger buyers could help push demand for green cars to the point where it would have a significant impact on fuel consumption.

"While they're not necessarily going to gravitate to and make a buying decision because of 'green,' they have a preference towards new technologies," said Joe Vitale, an auto analyst with Deloitte.

"We think this generation may be the generation that creates a tipping point to an electrified world."

More than 50 new models will be revealed on Monday and Tuesday as automakers vie for the attention of some 6,000 journalists from around the world.

 

also read

Celebrating 60 years of the Citroën DS

blog comments powered by Disqus