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There have been more than 52,000 six-figure car sales in January and February this year alone, he said.
Thats up from 46,000 over the same time last year, and from 12,000 in 2020.
This, said Moody, may be costing them.
Shefska added theJaguar F-Paceis already showing signs of bearing the brunt of the companys change in direction.
We think that means there will be some big price cuts on that vehicle.
EV sales have been slowing down, particularly in the luxury segment.
This high inventory level suggests that dealerships will be offering steep discounts and financing incentives to move units.
Cadillac CT4
With a 243-day supply, theCadillac CT4is another luxury sedan struggling to find buyers.
Shefska attributes its likely price decline to the growing preference for SUVs over sedans.
Theres just not a lot of interest in expensive Maseratis right now shocker, said Shefska.
And they raised the prices for 2025, despite already struggling to sell their vehicles.
He anticipates buyers will find good deals this year through dealer incentives and financing deals.
I would imagine price drops on electric versions of Lexus andMercedes-Benzvehicles especially lightly-used versions, said Moody.
The slowing demand for luxury EVs means steep discounts and attractive lease deals could be on the horizon.
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