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With recession fears, housing market worries and high gasoline prices, retailers have been facing tough times and so have luxury car dealers. March proved another tough month for carmakers, with overall U.S. sales declining after the weakening economy put a curb on consumer spending. Amid the challenging market conditions, even the rich are joining the general anxiety. With the dollar losing ground each day it is difficult to know how much your savings are valued at any more. Then, a simple question appears "Can I afford to buy a luxury car?" It seems like not too many gave a positive answer as most luxury car brands faced sales declines last month.
Sales for BMW fell 8.7%, while Lexus saw a plunge in sales of 13.6%. And even Mercedes-Benz was down nearly 4 percent. Overall luxury vehicle sales fell almost 13% compared with the same month last year, according to Autodata.
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