If you’re a business owner or have some money to spend, opting for a luxury vehicle is usually the default choice to show off your wealth. In a sense, luxury cars have become like a status symbol in this modern era, directly reflecting the owner’s lifestyle choices.
Since the cars we drive reflect our lifestyle, many people also judge others depending on what they drive. The modern luxury car market includes a wide variety of choices ranging from sleek coupes to massive four-wheel-drive SUVs that can tackle even the harshest conditions. To find out more about the latest luxury cars, car buying websites like CarHP & Edmunds will be of great help, keeping you updated on the latest cars released.
Because almost all luxury car buyers focus on the lifestyle above all else, manufacturers could focus their efforts on selling the lifestyle along with the car. As of now, luxury car sales make up only 10% of the market, making them highly desirable and exclusive. This exclusive nature also means that you’ll stand out when owning and driving a luxury car. Let’s now take a deep dive into the advantages of lifestyle marketing and how owning a luxury car can affect your life.
Showing off your success
First and foremost, owning and driving a luxury car will help you show off your wealth to the world, making them a status symbol instead of basic transportation. The modern market also offers a wide variety of choices ranging from high-performance coupes (see here) to massive three-row luxury SUVs that ooze class. Because luxury cars convey success and wealth, a lot of companies and business owners drive around in them to let others know of their success. Owning a luxury car is also a common goal for many Americans.
The exclusivity that comes with luxury cars is a major draw for potential customers.
Because luxury cars are exclusive in their community, owners will also get some recognition because of the cars they drive.
If we look at it from another perspective, driving around in a luxury car is like wearing a bespoke suit, completing your lifestyle.
Luxury cars offer a lot more comfort and features
Unsurprisingly, almost all the luxury cars available in the market will include all the latest features and creature comforts. Luxury cars justify the higher price tag with high-quality cabins and a long feature list. You also get a lot of optional packages to improve it even further. Comfort is also significantly improved, thanks to the addition of advanced suspension systems that soak up bumps with ease, especially when equipped with air suspension.
Luxury car manufacturers usually advertise the features on offer and focus on offering the most advanced technologies that aren’t available anywhere else. Over the years, almost all the latest technologies were introduced with luxury cars, till they eventually trickle down to regular models.
On the same front, luxury cars are also a lot safer, including an array of driver assistance features and even semi-autonomous driving in some models, according to Which. As usual, a lot of these features were initially available with luxury cars before they became mainstream. Luxury cars also top most safety lists every year because of these features on offer.
Luxury cars also offer higher performance in general, with almost all models producing upwards of 300 hp. Not only performance, but luxury cars are also a lot more refined than usual with plenty of sound insulation to keep the passengers disconnected from the outside world. A lot of luxury car buyers also consider performance as a top priority, particularly with performance-focused luxury cars like the BMW M series and Mercedes-AMG. The extra performance also increases desirability for a luxury car.
Another aspect that luxury car owners consider is ride quality and dynamics. Unlike the rudimentary suspension setups in most regular cars, luxury cars, especially the ones with higher performance are equipped with more advanced multi-link setups and in some cases, air suspension to provide excellent comfort without compromising dynamics.
The extra performance and advanced suspension setups also make luxury cars a lot more fun and engaging to drive, making them a lot more desirable to car enthusiasts who’re looking for the best that money can buy.
Car enthusiasts also make up a large part of the target audience because of their passion for cars, and luxury cars will provide exactly that with no compromises. In modern times, there are plenty of high-performance models to choose from, regardless of body type and size.
Better consumer experience
Along with the exclusivity and performance, luxury cars are also appealing because of the superior consumer experience compared to regular models. The whole experience from buying to ownership to servicing will all be a notch higher than normal. Most luxury car owners get top priority and will get a better dealership experience reflecting the price point.
Servicing will also be better as the customer will get a personalized experience with plenty of other benefits.
The superior customer experience carries over even if you consider a used model.
While luxury cars might seem like a bad investment at first, a lot of customers take the plunge for the superiority on offer. With a lot more exclusivity than regular models and a superior experience right from the showroom floor to the dealership services, luxury cars justify the expense for most customers.
These were some of the main reasons why luxury car buyers spend extra. So, luxury car manufacturers can focus on selling the whole luxury lifestyle instead, says Bloomberg. Since luxury car manufacturers also offer a wide range of options and customizations, it all adds to the lifestyle experience. Even if we consider high-performance models like AMG, manufacturers usually offer a driving experience course or track day lessons for the owners to get acquainted with the limits of their cars.
Overall, car manufacturers should certainly focus on selling the whole lifestyle to improve their sales and marketing campaigns.
Last Updated: March 3, 2022