The upper class segment is the best performing class in the US in the first quarter of 2022, with sales almost doubling (+92%) in an overall market down 16%. With 10,640 deliveries, it remains one of the smallest segments at 0.3% share. This is a clear result of automakers prioritizing production of high-margin products in supply constrained circumstances.
Another reason for the strong performance of the class is the introduction of new and updated models. The traditional leader Mercedes-Benz S-Class is up almost fivefold thanks to the new generation and improves its share of the class to 45.3%. And in second place we find its all-electric sibling Mercedes-Benz EQS with nearly 2,100 deliveries, which gives Mercedes-Benz a dominant 64.9% share of the class. The BMW 7-Series is down 22% just when it’s due for a facelift and the introduction of its own EV rival BMW i7. The Porsche Panamera is a distant fourth with sales up 75%, moving ahead of the Lexus LS, down 48%. The Audi A8 is also down 47% and falls behind the Genesis G90 which shows stable sales at +3%. We welcome the all-electric Lucid Air to the charts at #8. It will be very interesting to see how this will stack up against the EQS, i7 and other rivals from established brands. Will Lucid go the way of Tesla and become a full-blown rival, or will it struggle to carve out more than a niche for itself in what’s probably the class where buyers are the most demanding?
The Cadillac CT6, Kia K900 and Jaguar XJ have reached the end of their life cycles.
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