What percent of people own a luxury car?
Luxury brands are well perceived by car owners U.S. consumers did not pay particular importance to luxury or premium vehicles. Only 17 percent of a sample of the U.S. population affirmed buying premium or luxury cars, motorcycles, or bicycles, despite brand awareness for these products reaching 32 percent.
What do luxury car buyers want?
Thus, those who buy luxury cars more more likely crave social status and material wealth, as opposed to utilitarian cars which consumers buy out of necessity. The luxury car company needs to maintain their brand reputation and quality to attract these customers.
Who is the typical BMW driver?
According to YouGov, BMW drivers are most commonly male, aged 40-59, and live in East Anglia. They’re likely to hold right wing political views and work in the business, finance or consulting sectors.
What the wealthy are driving?
But for the majority of America’s wealthiest people, the popular trend is to go with a mainstream car. According to Dave Ramsey, about 61 percent of America’s wealthiest people actually drive Hondas, Toyota, and Fords.
At what salary should I buy an Audi?
Buy it only if it costs between 6 to 12 times of your monthly income. In your case, an Audi would cost somewhere between around 30 to 40 lakhs. So it would be a viable option only if you’re earning somewhere around 3.6 – 5.0 lakhs per month.
How much should you make to buy a car?
Generally speaking, a bank suggests that no more than 25-30% of your annual income go towards a vehicle, as other expenses associated with the vehicle must be factored in such as insurance, servicing and of course fuel costs, which are exorbitant in the current economic climate.
Do wealthy Americans buy luxury cars?
Most wealthy American drivers do not own luxury cars: in fact, 61% of car buyers with household incomes of $250,000 or more don’t own a luxury car, according to Money Under 30. The age group most likely to purchase a luxury car in 2014 was the 18-to-34 cohort, which comprised 45% of luxury vehicle buyers.
Does geography matter when it comes to buying a luxury car?
Geography matters when comparing vehicle ownership and “average household income.” Recently, Kantar Media TGI did research on luxury car owners for the New York Times. They found the average income for a luxury car owner was about $100,000, but that average ranged from $83,891 to $155,548, by state!
What age group buys the most luxury cars?
The age group most likely to purchase a luxury car in 2014 was the 18-to-34 cohort, which comprised 45% of luxury vehicle buyers. Insurance is a major contributor to auto-related costs.
How much does the average BMW owner make?
They found the average income for a luxury car owner was about $100,000, but that average ranged from $83,891 to $155,548, by state! Our overall data is pulled from just over 3,000 new BMW owners, with a margin of error of +/-2.5%.