The year-long battle between North America's top luxury brands has been intense, with three separate companies – Lexus, Mercedes-Benz and BMW – all having a chance at claiming the crown. Though Lexus holds the lead going into December, all three have a chance at coming out on top.

Lexus has been the top-selling brand on the continent for the past 10 years, but has seen its dominance challenged in 2010 thanks to a wave of recalls by parent company Toyota. That gave both Mercedes-Benz and BMW a chance to knock the Japanese nameplate off its throne.

Bloomberg previously reported that the battle was down to Mercedes and Lexus, but a strong showing by BMW in November has made it a three-horse race. Lexus has the lead with 201,769 vehicles shipped, while the German brands are neck-and-neck at 196,833 for BMW and 196,288 for Mercedes.

BMW improved its sales by 30 percent year-on-year in November, compared to an 8.4 percent rise for Mercedes and a 1.4 percent drop for Lexus.

Despite the recent drop-off for Lexus, BMW U.S. unit chief Jim O'Donnell told the news source that Lexus would likely walk away with the crown thanks to December incentive programs that will drive sales. Mercedes and BMW, meanwhile, have backed off of incentive programs.

"Next year, I would like to think we may have a go at them," he said.