Santa Monica, California – Luxury crossovers are not living up to the expectation that they would be the “new fad” among car buyers, according to Edmunds.com.
Sales of the segment in the U.S. have dropped nearly 25 per cent since 2007, despite the fact that four new models were introduced into the segment during the period.
“The luxury crossover segment has taken a beating in sales because most of today’s consumers are concentrating on value,” said Jessica Caldwell, senior industry analyst. “Big profits were anticipated for new models introduced into this segment, and that is just not proving to be the reality for most.”
Models that dropped significantly included the Infiniti EX35, Land Rover LR2, Acura RDX, BMW X3 and Volvo XC90.