Carl Benz was the first person to patent a car in 1886. Almost a century later, cars have evolved significantly to match someone’s needs, income, pride, and enthusiasm. Though in the automotive industry, there is a wide selection of cars sharing similar functions and prices differ greatly. Why should someone shell out extra bucks for a certain brand of cars, yet they can get cheaper versions? Here are reasons why luxury vehicles can melt an iron-hearted folk into an auto aficionado.
1. Luxury cars elevate someone’s status in the society
If we set a car’s raw performance and power aside, luxury cars are nothing but empty cabins, yet people still love them! The physical characteristic of the car might have drained down the pipe, but its intangible value can never be erased. This is clearly indicated by the blooming consumption of luxury cars since most people are after the image portrayed by these high-end machines and not how they perform.
2. To expand their hobbies
Over 1.3 billion people worldwide own at least one car. From this figure, a large percent of car owners treat their cars as living things or pets with a high degree of love and passion.
Nonetheless, most people who identify themselves as car lovers tend to roam with luxury goods to distinguish themselves from common car owners. In the end, car lovers will allocate some income to leisure and buy high prized cars to expand their hobbies or invest in ETR BMW to get returns. People owning high valued cars form a close community of fans and share their love for cars together hence sprucing their hobbies. In other words, you are likely to find a Benz or Rolls Royce club in your neighborhood than a Nissan owners club.
3. Safety reasons
Everyone loves traveling in a car that guarantees safety. Advanced safety features in a car require heavy investment and expensive research, thus increasing the overall value of the car. Some top security features found in luxury cars include auto lane-keeping features, anti-lock braking systems, and blind-spot warning systems, which many people will pay a great price to own.
4. State of the art technology
Nowadays, electric cars are considered luxury machines because of the technology used in the manufacturing process. These cars are cool, fast, and they glide silently without emitting smoke, thanks to the batteries used to produce power. While electric cars’ technology focuses on speed and zero emissions to brand them luxury cars, gas engines too, come with state-of-the-art technology, which fetches a high price tag.
Both Bugatti and Ferrari are expensive cars using gasoline, but their structure and making uses of high-tech carbon fibers to reduce the weight and improve the speed of the car. Carbon fibers are expensive, and if used in the production process, the final price will also be expensive. Carbon fibers are just the tip of an iceberg when we talk about high-tech materials used in car making, here are more features that convert a conventional car into a luxury locomotive; navigation aids such as picture navigation, remote starters, and advanced entertainment systems with Wi-Fi connections.
One way cars warrant high prices is how they perform. Most cars balance fuel efficiency and sufficient performance with low expenses, hence, selling at affordable prices. Affordability is highly prioritized over performance by many customers who go for regular cars. However, the story is different with luxury cars since their prices are synonymous with performance.
Premium car manufacturers specializing in gas engines like Bugatti, channel great investments to their cars’ performance, especially speed, which increases the overall price of the final product. On the other hand, electric cars too, perform very well but trim all expenses from zero fuel costs to few maintenance charges, which make some of them affordable and less competitive in the luxury car market.
The luxury car market is dominated by high prices, top performance, customization, safety issues, and state-of-the-art technology. Also, society paints someone driving a luxury car as a successful person; thus, most people want to be associated with these elegant machines. All in all, every car enthusiast has a personal connection with his machine; therefore, the question of how much to spend on a car isn’t general, but it trickles down to the individual level.