May 2 (Bloomberg) -- U.S. sales of luxury auto brands including Toyota Motor Corp.'s Lexus and Daimler AG's Mercedes- Benz fell in April, adding to evidence that the economic slowdown is causing even wealthy buyers to curb spending.

Sales by automakers' luxury divisions -- broadly defined by analysts as those selling autos for $40,000 aimed at the most- affluent consumers -- dropped 13 percent from a year earlier, according to Woodcliff Lake, New Jersey-based Autodata. That outpaced the 8.9 percent decline in sales of all vehicles.

The results reflect the run-up in gasoline prices, dropping real estate values and tighter credit that forecasters said may halt economic growth by mid-year. Sagging stock markets and shrinking bonuses may also be weighing on premium-brand buyers, spurring them to join lower-income shoppers in paring purchases.

``Normally, the case is the upper end is unaffected'' by the economy, Jeff Schuster, an automotive sales analyst with J.D. Power & Associates in Troy Michigan, said in an interview. ``You have this financial markets crisis that appears to have impacted the segment to a greater extent.''

Luxury-auto sales have fallen 16 percent this year, according to Autodata. The automakers reported U.S. sales yesterday.

Sales of Toyota's Lexus, the largest U.S. premium brand, fell 10 percent in April and are down 9.6 percent this year. Mercedes-Benz's fell 3 percent last month and Porsche SE's were down 4.6 percent, General Motors Corp.'s Cadillac dropped 15 percent and its Saab unit was down 33 percent. Volkswagen AG's Audi sales fell 4.6 percent.

Job Losses

Bayerische Motoren Werke AG bucked last month's slide, posting a 5.6 percent April gain on the introduction of three new models. Daimler, BMW and Volkswagen also are sticking with their forecasts for higher 2008 sales of their premier brands.

Still, meeting those targets would require a tailwind from the economy that hasn't materialized. Even with BMW's April gain, the Munich-based automaker's U.S. sales are down 8.2 percent this year.

The U.S. has lost an average of 65,000 jobs a month this year, and the economy's 0.6 percent expansion rate over the six months through March was the weakest performance since the U.S. was last in a recession in 2001.

Growth may stall this quarter amid a slowdown in consumer spending, according to the median estimate of 62 economists surveyed from April 2 to April 8 by Bloomberg News. A majority said the U.S. is, or will soon be, in a recession.

Used Cars

Consumer spending, which accounts for about 70 percent of the economy, rose at a 1 percent annual pace in the first three months of 2008, the smallest gain since the second quarter of 2001 and less than half the increase in the previous quarter.

Sales in New York City, where demand for luxury vehicles is usually robust, may be hurt by job losses at financial firms, J.D. Power's Schuster said.

Wall Street banks and securities firms, hit by $319 billion in mortgage losses and writedowns, have slashed more than 48,000 jobs in the past 10 months, led by cuts at Citigroup Inc. and Merrill Lynch & Co., according to Bloomberg data.

Mark Templin, general manager of the Lexus brand, said yesterday that customers are shifting purchases to used vehicles.

``We haven't had enough time to study the growth. We suspect the economic impact on people's mood are driving them from new to certified pre-owned cars,'' Templin said. ``We expect pre-owned sales to continue to climb in May.''

Not Above the Fray

Automakers aren't the only ones feeling the pinch from a shrinkage in spending by affluent consumers.

Sales at luxury stores open at least a year fell 5.3 percent in March, according to the International Council of Shopping Centers, a New York-based trade group. Profit margins at Coach Inc., the largest U.S. maker of luxury leather handbags, contracted more than analysts estimated last quarter, suggesting Coach may have to sell more of its products at a discount to lure shoppers.

``Luxury brands are not staying above the fray,'' said Efraim Levy, an equity analyst with Standard & Poor's, in an interview.

To contact the reporter on this story: Mike Ramsey in Southfield, Michigan at mramsey6bloomberg.net

Last Updated: May 2, 2008 11:10 EDT