Some people might expect individuals who make considerable amounts of money to spend their spoils on luxury automotive brands, such as Ferrari, Porsche or Maserati. But a new study shows that’s far from the case, and that rich folk have car tastes similar to those of average consumers.
Ford’s F-150 is the most popular vehicle in the United States, and it has been for quite some time. But it’s also the nation’s highest-selling vehicle among people making more than $200,000 per year, according to a study covering the 2016 model year cunducted by MatritzCX, via USA TODAY. The vehicles trailing the F-150 on the list are: Jeep Grand Cherokee, Honda Pilot, Jeep Wrangler and Honda Civic.
While there are exceptions, typically people making approximately $200,000 per year still would struggle to afford brands like Ferrari. But once the incomes double, the luxury brands start to take over. The most popular vehicle among people with annual incomes above $400,000 is the Lexus RX350, followed by Tesla’s Model S and the Civic.
Interestingly enough, the top-seller among motorists with annual incomes exceeding $500,000 is the F-150, trailed by a pair of Land Rover models, BMW X5 and the RX 350, according to the study. Like most of the country, the wealthy demographic is buying more trucks and SUVs than ever before.
“(There has been) a shift out of luxury vehicles in a lot of cases and moving toward SUVs and trucks,” Shawn St. Clair, senior director of global syndication for MatritzCX said, via USA TODAY.
St. Clair says a major factor in wealthy people moving toward more mainstream brands could be that advanced features and technologies are becoming far-less exclusive than they used to be. He also said that high-income earners aren’t what they once were, now prioritizing vehicles that can get them to work safely, or make their jobs easier.
“Some people, like the actively employed wealthy, are too busy working to think about luxury cars,” Robb Report auto editor Robert Ross said, via USA TODAY. “For them, a car becomes an appliance.”
For what it’s worth, we’re very busy, and we’re still thinking about luxury cars.
Thumbnail photo via Ford