Generation Y's Hunger For Luxury Cars
Generation Y is commonly touted as the generation of entitlement and immediate gratification, and although some might argue it seems luxury car sales and statistics are backing up the "I want it now" trend of young people. BMW's M3, for example, is a car that starts at $54,000, and although that price tag would normally mean an older and wealthier demographic its most popular buyer is in their mid-20s. It seems the young people of today not only want high-end luxury cars but they're stretching themselves and scrimping in other places to have them. Brands across the board are noticing the trend, which in today's economy is a little surprising (and scary!).
Reader Comments (Page 1 of 1)
LC Jul 2nd 2008 2:06PM
Why is it scary? Fear is what got the economy in this mess.
People really need to buy a clue. Gorsh.
willzville Jul 2nd 2008 3:07PM
Its not scary at all. Check out the average child/parent age ratio, over the years this has increased, as people are becoming parents at an older age - thus us young people inherit our parent's, and/or grand parent's assets at a younger age.
I'm 21, and inherited my grandparents house when I was 18 with all estate taxes paid for the next 10+ years. My mom is 72 so I'll be own 2 homes soon. Because of this all my income is 'spending money' for stuff like luxury cars as this article states, although I'm more into yachts.