The U.S. luxury auto market in 2013 accounted for 1,358,754 vehicles sold.
At the same time, depending on whose research you look at Ultra High Net Worth (UHNW) families (generally defined as having a Net Worth of at least $30 million) have a combined Net Worth of between $30 trillion and $50 trillion (U.S. debt is $16.9 trillion). Again, depending on various reports there are between 120,000 and 200,000 families that fit the criteria. So no matter whose research you look at, money is not an object.
Elite Traveler, the magazine I co-founded in 2001 and is distributed aboard private jets, has slightly over 400,000 readers who have a Household Income of $1 million per year. Our research, conducted by R.A. Prince & Associates, shows these readers own or lease an average of 4.4 vehicles, so in total they account for 1.76 million vehicles. Additionally, we know 85 percent buy or…
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