Luxury cars may be replacing pickups as the American ride of choice. U.S. drivers are clamoring for BMWs (BMW:GR), Audis (NSU:GR), and Infinitis (7201:JP) this year, buying plush vehicles at a far faster pace than other cars or even the traditional favorite Ford (F) F-150.
In the first five months of the year, luxury automakers sold almost 66,000 more vehicles in the U.S. than they did a year earlier, an 11 percent increase. Lincoln andLexus (TM) in particular were stomping on the sales pedal. Sales of midsize cars such as the Honda (HMC) Accord—the biggest segment of the U.S. market—slipped 3.6 percent, while truck sales—another huge chunk of the market—were up 4.6 percent.
Why are so many U.S. buyers springing for an opulent car? A relatively robust stock market helps, as does an improving overall economy. But there’s something far more interesting going on. A lot of Americans aren’t really buying new BMWs and Benzes after all; they’re renting them—or leasing, to be specific.
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