Car Brands Purchased Most by Wealthy Households
02-25-2008, 08:53 AM
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No surprises here ...
Top 10 Brands (2007 U.S. automotive sales) with the highest percentage of buyers with income of $200,000+:
Porsche 16.3%
Jaguar 15.1%
Land Rover 14.3%
BMW 13.3%
Mercedes-Benz 13.0%
Audi 12.6%
Infiniti 12.0%
Saab 11.6%
Volvo 11.6%
Lexus 11.4%
Total Industry 5.6%
But what I find interesting is that even among these premier luxury brands, 85% (or more) of buyers do not earn what might be considered a lot of money. And the gap with the typical car purchaser is not that vast (5.6% of all households buying a new car in 2007 made more than $200k).
Maybe I should buy that Porsche afterall.
Top 10 Brands (2007 U.S. automotive sales) with the highest percentage of buyers with income of $200,000+:
Porsche 16.3%
Jaguar 15.1%
Land Rover 14.3%
BMW 13.3%
Mercedes-Benz 13.0%
Audi 12.6%
Infiniti 12.0%
Saab 11.6%
Volvo 11.6%
Lexus 11.4%
Total Industry 5.6%
But what I find interesting is that even among these premier luxury brands, 85% (or more) of buyers do not earn what might be considered a lot of money. And the gap with the typical car purchaser is not that vast (5.6% of all households buying a new car in 2007 made more than $200k).
Maybe I should buy that Porsche afterall.
02-25-2008, 09:45 AM
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I think there are two ways of looking at these stats (and it is causing confusion):
1) Out of all the Porsche buyers last year, only 16.3% made more than $200k.
2) Out of all the cars bought by people who make more than $200k, 16% of them bought Porsches compared to another model.
Those are two different things. I think the latter is how the study is being presented, but the former is how the OP is interpreting it. I could be that 100% of Porsche buyers make more than $200k, but it still only represents 16% of the models bought by people in that group. See?
1) Out of all the Porsche buyers last year, only 16.3% made more than $200k.
2) Out of all the cars bought by people who make more than $200k, 16% of them bought Porsches compared to another model.
Those are two different things. I think the latter is how the study is being presented, but the former is how the OP is interpreting it. I could be that 100% of Porsche buyers make more than $200k, but it still only represents 16% of the models bought by people in that group. See?
02-26-2008, 02:46 AM
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Originally Posted by 1esquire' post='535829' date='Feb 25 2008, 12:45 PM
I think there are two ways of looking at these stats (and it is causing confusion):
1) Out of all the Porsche buyers last year, only 16.3% made more than $200k.
2) Out of all the cars bought by people who make more than $200k, 16% of them bought Porsches compared to another model.
Those are two different things. I think the latter is how the study is being presented, but the former is how the OP is interpreting it. I could be that 100% of Porsche buyers make more than $200k, but it still only represents 16% of the models bought by people in that group. See?
1) Out of all the Porsche buyers last year, only 16.3% made more than $200k.
2) Out of all the cars bought by people who make more than $200k, 16% of them bought Porsches compared to another model.
Those are two different things. I think the latter is how the study is being presented, but the former is how the OP is interpreting it. I could be that 100% of Porsche buyers make more than $200k, but it still only represents 16% of the models bought by people in that group. See?
List #2 - among all households earning $200,00 or more - the brands purchased most are:
Lexus 10.7%
Mercedes-Benz 10.5%
BMW 10.1%
Honda 9.1%
Toyota 9.0%
Chevrolet 7.1%
Ford 5.0%
Cadillac 4.4%
GMC 3.7%
Acura 3.6%
02-26-2008, 05:03 AM
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In that case... I am also very surprised that 84% of Porsche buyers don't make more than $200k. I guess you have to factor into this, however, what percentage of Porsches sold are the $50k Boxters and Cayennes vs. what percentage are the 911 Turbos.
03-05-2008, 12:56 PM
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Originally Posted by 1esquire' post='536188' date='Feb 26 2008, 09:03 AM
In that case... I am also very surprised that 84% of Porsche buyers don't make more than $200k. I guess you have to factor into this, however, what percentage of Porsches sold are the $50k Boxters and Cayennes vs. what percentage are the 911 Turbos.
03-30-2008, 01:29 PM
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It seems that 911 owners have much higher incomes than Boxster owners.
From Forbes Online:
http://www.forbes.com/vehicles/2007/05/09/...thisSpeed=15000
Take the Porsche 911. Its buyers are 86.8 percent male with the average age of 51 and median income of $390,000. They are driven to succeed and like to reward themselves for achieving their goals.
From Forbes Online:
http://www.forbes.com/vehicles/2007/05/09/...thisSpeed=15000
Take the Porsche 911. Its buyers are 86.8 percent male with the average age of 51 and median income of $390,000. They are driven to succeed and like to reward themselves for achieving their goals.
04-17-2008, 12:45 PM
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Originally Posted by LowOrbit' post='553329' date='Mar 30 2008, 02:29 PM
It seems that 911 owners have much higher incomes than Boxster owners.
From Forbes Online:
http://www.forbes.com/vehicles/2007/05/09/...thisSpeed=15000
Take the Porsche 911. Its buyers are 86.8 percent male with the average age of 51 and median income of $390,000. They are driven to succeed and like to reward themselves for achieving their goals.
From Forbes Online:
http://www.forbes.com/vehicles/2007/05/09/...thisSpeed=15000
Take the Porsche 911. Its buyers are 86.8 percent male with the average age of 51 and median income of $390,000. They are driven to succeed and like to reward themselves for achieving their goals.
I don't need to read anything to reach this conclusion. "driven to succeed"?
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