NEW YORK — When you walk into the New York Auto Show, two things stand out: the size of the cars and the sheer cost of them.
This is not the year of the petite, fast sportscar or the sensible station wagon. Carmakers are going for bling, reaching for those luxury consumers.
It’s a demographic that keeps growing, despite weak or weakening economies in the US, China and Europe. China, the engine for luxury spending worldwide, is experiencing its slowest economy in 15 years.
The luxury industry somehow floats above those petty concerns. Luxury spending surpassed $1.1 trillion in 2015, which was 5% more than 2014, according to Bain. Read more…
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