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Cars and Transportation
Reply to ""luxury" cars - why? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why would someone buy a 70-150k car when a 35k car gets you around just fine? Seems like a waste to me. I have a friend who just bought a Mercedes and I don't think k I could bring myself to do it. I know everyone's values are different but if I got a raise, I would go on vacation and save some. [/quote] Psst: here's a little secret Ready? Some people can afford it For many people in the DMV, 35k is a weekly income. Not really worth cheaping out then is it[/quote] According to this 2014 NYTimes article, the median income of a luxury car owner is less than 100K. It is certainly not those earning $1M+/year that are driving luxury car sales.[/quote] All the market research I've read suggests it's more around 750 I'm sorry (not really) but consumption rises with income. Income elasticity of demand. Fundamental principle of economics.[/quote]
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