January 15, 2013 |
DETROIT - Fancy nameplates in the auto business are prepping for a bruising battle for buyers of entry-level luxury sport sedans. At the North American International Auto Show in Detroit this week, the Germans and Japanese showed a flurry of new lower-end luxury models, which analysts say have big growth potential among cost- and efficiency-minded buyers who still want nicely appointed performance sedans. The new crop includes redesigned versions of the Lexus IS line, the first Mercedes-Benz front-wheel-drive sedan for the U.S. market, Infiniti's Q50 replacement for its G37 sedan and a BMW 320i, priced about 10% below where the current 3-Series line starts.
January 14, 2013 |
Swiss watch giant Swatch Group is scooping up Harry Winston Diamond Corp.'s luxury goods operation in a deal valued at as much as $1 billion. The Swiss firm will pay $750 million and assume up to $250 million in debt of the Toronto-based diamond specialist, which Marilyn Monroe crooned about in the 1953 film "Gentlemen Prefer Blondes," Harry Winston said in a statement. The part of Harry Winston that is not sold will be re-dubbed Dominion Diamond Corp. and will source polished diamonds for Swatch.
August 28, 2012 |
BEIJING -- Ford Motor Co. continued its China blitz Tuesday, announcing that it would join the country's increasingly competitive luxury-car segment by introducing Lincoln automobiles to the Chinese market by 2014. The announcement comes a day after Ford broke ground on its sixth factory in China, a $600-million plant in the southwestern city of Chongqing, and revealed that it had won initial regulatory approval to free itself from a local joint venture to manufacture cars with Mazda.
December 4, 2011 |
"It's been a disaster, a disaster," bellows Ubaldo Grazia. The owner of his family's 500-year-old ceramics business isn't talking about the financial meltdown in his country or the Eurozone debt crisis, but the weak U.S. economy that he said had cost him one customer after another. Saks, Tiffany, Nieman Marcus, Williams-Sonoma — his list goes on. Grazia's company, now in its 25th generation, is one of dozens of ceramics makers struggling in this picturesque medieval town known for its handcrafted pottery.
July 12, 2011 |
Auto retailing giant Penske Automotive Group Inc. has bought the Crevier BMW and Mini franchises in Santa Ana. The acquisition, announced Tuesday, represents a move by the dealer chain to increase its presence in Southern California and in the luxury segment of the auto business. Over several decades, the Crevier family has built the dealership into one of the nation's largest BMW centers and recently set off a local advertising war by trumpeting the store's amenities, especially a putting green that customers can use while their vehicle is serviced.
November 6, 2010 |
In a dogfight that could help consumers get some of the best deals in years, Mercedes-Benz and Lexus are neck and neck in the race to be the top seller of luxury vehicles in America. For the first time in a decade, Mercedes-Benz is close to toppling Lexus for the bragging rights. But with two months of sales left, Lexus isn't ready to give up the title. That has set the stage for what is expected to be an all-out fight with both brands pouring on the advertising and offering year-end deals.