Car sales will continue to surge in 2018 with new models expected to reach the top 10% of the market in a few years.
With the average price of a new car set to hit $50,000 by the end of 2019, rental car sales are expected to hit another peak, the highest since 2010.
The next wave, however, is more likely to be a smaller one.
While the average cost of a rental car has reached $30,000 in 2019, there are several models at the top of the list that could reach $50k by the time the year is out.
Among the most popular new models are the Toyota Corolla, Ford Focus, and Hyundai Sonata, according to the latest Consumer Reports car rankings.
In addition, a number of luxury models are in the top 5.
A Tesla Model 3, the first mass-market electric vehicle, is also expected to arrive on the market by 2020, according a report by Edmunds.
Even more exciting, the Nissan Leaf could also enter the market as a mass-production model by 2021, according the report.
And in the meantime, the Ford Fusion is on course to make a splash, with sales in 2019 expected to be over 60% higher than in 2018.
“This year has been a very good one for luxury vehicles,” said Michael Schmitt, senior analyst for Edmunds, in a statement.
“As the years go on, we expect to see a number from the new generation of EVs, including the Toyota Prius and Tesla Model S, entering the market.”
While 2017 was a rough year for car sales, 2019 is expected to see another rebound.
Sales of luxury vehicles are expected in 2019 to reach $1.4 trillion, according data from the National Association of Realtors.
Toyota has already announced a new generation SUV that it expects to be available by 2021.
Meanwhile, Nissan has said that it plans to start producing its Prius SUV in 2019 and a crossover version by 2021 for the U.S. market.
Despite the booming luxury car market, the car market still has a ways to go.
For instance, the luxury car industry is not yet ready to embrace electric vehicles and the demand for luxury products is still a huge hurdle for car makers.
Still, the 2018 market is shaping up to be the best for luxury car sales in decades.
If you want to stay up-to-date on the best luxury car deals, visit Edmunds or check out our Luxury Car Buying Guide.