The Volkswagen Group's two luxury leaders are seeing the start of a recovery from 2010Enlarge Photo
The Volkswagen Group's luxury and super-luxury brands aren't saying all is well, however. "Global markets will bottom out this year," Audi chief financial officer Axel Strotbek said in an interview with Bloomberg. “By and large, we expect a slight recovery in 2010.”
The uptick is already being seen in Germany, where Audi scored a record 27,700 sales in June. The larger U.S. market will take longer to respond, and is the basis for the 2010 recovery statement. Interestingly, it may be luxury brands that lead the way out of the slumped economy.
China, Australia and India are also helping to boost things back up, especially for Lamborghini. China in particular is a strong market for the Raging Bull according to the report.
What does this mean for the present? If you're in the market to buy a car and you can afford one now, it may be time to take advantage of low interest rates, cash-back incentives and dealer willingness to bargain, because once the market is back on its feet, such deals won't likely stick around.