What Cars Do Wealthy Drivers Really Buy?

12 years, 3 months ago - 10 August 2012, Wall Street Journal

When you see people driving expensive, flashy cars, do you assume they have lots of money? It turns out many of them may be poseurs who are just trying to look wealthy. According to a new study, the folks with the best cash flow are often driving Toyota Prius sedans and Honda CR-Vs.

Auto industry research and forecasting companyTrueCar.com said it looked into the top vehicles people in the 10 wealthiest zip codes are buying. TrueCar said that while fancy cars remain part of a broad stereotype of well-to-do drivers, TrueCar data show there are many wealthy consumers who choose to drive mainstream cars.

The company said half of the vehicles in the top group are non-luxury models, and all of the top vehicles except the Mercedes-Benz E-Class and the BMW X5 cost less than $50,000.

“Luxury brands like BMW, Mercedes-Benz, and Lexus are the top choice for the well-off, but with wealth often comes freedom of choice, ” said Kristen Andersson, a senior analyst at TrueCar.com. “For affluent buyers who live in places where environmental concerns reign supreme, the Toyota Prius is the ultimate status symbol in eco-luxury.”

Here is the top-10 list from TrueCarfor vehicles that are popular with rich buyers:

Rank	Make/Model	Segment	Market Average**
1	Mercedes-Benz E-Class	Luxury Car	$48,068
2	BMW 328	Luxury Car	$34,461
3	Mercedes-Benz C-Class	Luxury Car	$34,144
4	Lexus RX	Luxury SUV	$37,628
5	Toyota Prius	Small Car	$29,525
6	Volkswagen Jetta	Small Car	$24,978
7	Honda CR-V	Midsize SUV	$28,875
8	Honda Accord	Midsize Car	$21,210
9	Toyota Camry	Midsize Car	$23,871
10	BMW X5	Luxury SUV	$54,995