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Luxury Cars Still Big Sellers

March 25, 2002

Unscathed by the recession, luxury cars are still big sellers. That's because, despite the economic downturn, well-heeled consumers didn't shy away from spending $35,000 or more on a luxury vehicle, according to the Miami Herald.High-end cars and trucks posted strong sales in 2001, and dealers are optimistic about continued brisk sales this year. The National Automobile Dealers Association (NADA) reported that 17.1 million light vehicles were sold in 2001, making it the second-highest sales year. Some 17.4 million were sold in 2000, and 16.9 million were sold in 1999."Luxury car sales have held up rather well because the dollar has been strong against the euro and the Japanese yen," said Paul Taylor, chief economist at NADA.
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