So much for scaling back. The world’s rich and elite — or those who just want to appear so — have been cracking open their wallets in a big way lately, and luxury automakers are the beneficiaries.
Luxury automakers like Mercedes, BMW and Cadillac would hate for their cars to be described as merely “average.” Yet new models from these and other upscale auto manufacturers are average in a way that’s undeniably appealing to consumers: they all have starting prices at around $30,000.
Youths are also sought after as customers because consumption habits are often ingrained at a young age—and because they will be money-spending consumers for many, many years to come.
Studies have shown that poor people tend to pay more for auto insurance. Guess who else pays a premium? People who own small, inexpensive cars—a group that also tends to be poor.
In a study evaluating the total costs of owning a car—including initial price, as well as likely fuel expenditures and expected maintenance and depreciation—Kia has been crowned as the overall lowest-projected-cost champ.
To entice buyers, an apartment building in Brooklyn Heights is throwing in a free parking space, along with something to park there: a 2009 Audi A4. All you have to do is buy an apartment that costs over $2 million.