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U.S. markets recover from steep losses
DETROIT, Sept. 20 (UPI) -- U.S. automakers Ford and General Motors are both launching revamped luxury brands as a necessary step to compete in the high-end market, experts said.
GM has updated the Cadillac brand with a new SRX crossover. In addition, GM is "setting up the launch for two cars," said industry analyst Jim Hall at 2953 Analytics.
Competitor Ford said it is planning to bring seven new versions of the Lincoln to the market in the next four years, the Detroit Free Press reported Monday.
Cadillac sales from January through August have risen 50 percent, about twice the increase experienced by other luxury brands. Cadillac has a market share of 9.4 percent of the luxury car market and Lincoln is at 5.7 percent.
Both brands lag behind Lexus, BMW and Mercedes, each of which make up at least 14 percent of the high-end car market, the newspaper said.
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