In life, people chase luxury.
Luxury houses. Luxury holidays. Luxury watches. And, of course, luxury cars.
The global luxury car market is one of the most valuable markets that there is, so it’s unsurprising that luxury cars have become such a huge part of modern consumer culture. In 2020, Mercedes-Benz sold a staggering 2.2 million vehicles, while Volkswagen (under the Audi brand) sold roughly 1.7 million vehicles – pretty impressive, right?
But what are the seven main reasons why people love luxury cars? Let’s look.
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Resale value
Luxury cars, due to their incredible worth and features, usually have insane resale values.
Owners who no longer want their luxury car can then sell their luxury car to luxury car buyers, knowing that they’re going to receive a good fee for it. Luxury cars don’t generally experience rapid price decreases after ownership (unless the model is very old or damaged), meaning owners don’t make substantial losses on the original payments they made for the car.
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Social status
A major boost in social status is guaranteed just by owning and driving a luxury car.
It lets people know that you have money; and likely have a high-paying job, too.
Some people work tirelessly at their jobs (day and night) just to be able to afford a luxury car that they can then use as a tool for social status – that’s how much it means to them!
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Speed
Luxury cars come with high-performance speeds that give drivers the ultimate thrill.
As a luxury car owner, you know that you can reach an incredibly fast speed whenever you feel like it (providing it’s within the speed limit!)
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Sound
You’ve probably experienced this countless times: You’re driving your car or walking down the street, and you suddenly hear the revving of a luxury car before it zooms past you. It’s an incredibly distinguishable sound that makes luxury car drivers even more noticeable (if they haven’t been spotted already!)
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Visuals
When you’re outside, and you see a flashy, exotic car drive by or even parked up on the sideway, you generally stop and look. This is because, visually, they look incredible. From the colors to the James Bond-style designs, it’s impossible not to admire their appearances.
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Interiors
An aspect of luxury cars often undiscussed and underappreciated is their interiors, which are usually fitted with the latest cutting-edge technology, from surround-sound speakers to wireless smartphone charging.
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To be like celebrities
Celebrities and social media influencers are luxury car fanatics. You only need to have a quick glance at your social media feeds to see this. From Kylie Jenner to Floyd Mayweather, all kinds of famous people drive luxury vehicles – and they usually own various kinds, too – rather than just one model. After all, they have money to burn, so who can blame them?
For example, Kylie Jenner’s car collection consists 15 luxury cars worth over $5 million combined.
Because modern culture idolizes celebrities, people often look to celebrities and influencers for lifestyle inspiration. They see the flash cars and, naturally, decide that they want them, which is a huge influence behind the growing luxury car market.
