People also ask
Does status make a luxury car worth the money?
Raw performance and safety aside, the intangible value of status does add to the worth of a luxury vehicle. Researchers at Consumer Reports may not put any stock in brand names, but anyone concerned with keeping up with the Joneses does.
What are the benefits of buying luxury cars?
Luxury cars also benefit because the brands excel when it comes to safety–and have enough credibility for consumers to splurge on new innovations. Electronic stability control, blind-spot warning systems and anti-lock brake systems (ABS) all found their way into the general car market after their introduction in luxury vehicles.
Will luxury cars rebound?
O’Donnell says luxury brands will rebound quicker than the rest, however, thanks to financially healthier dealerships, better leasing and certified pre-owned programs and loyal customers. In some respects, he’s already being proved right: Jaguar posted a surprising 17. 6% sales gain last January from the same period a year earlier.
Is this the first time America’s luxury segment has suffer a recession?
It’s the first time a downturn has so deeply affected America’s luxury segment, says BMW North America President Jim O’Donnell. This is the first time, I would say, since 1931 there was such a recession, because there were always areas of the country that [kept luxury cars] popular, O’Donnell says.