These Are The Favorite Car Brands Of The Ultra-Rich
While luxury brands may come to mind, data compiled by S&P Global Mobility highlights some interesting findings.
In this graphic, Visual Capitalist's Marcu Lu ranks the favorite car brands of the ultra-rich, based on each brand's percentage share of new registrations in the United States.
To come up with this analysis, S&P Global Mobility combined income data from the U.S. Census with their own vehicle registration and loyalty data. Ultra-wealthy households are defined as those with annual income of over $500,000. Rank Brand Ultra-Wealthy Market Share(% of new registrations) National Average Market Share(% of new registrations) 1 🇺🇸 Tesla 19.3 4.7 2 🇩🇪 BMW 9.9 2.4 3 🇩🇪 Mercedes-Benz 8.7 1.9 4 🇬🇧 Land Rover 5.8 0.6 5 🇯🇵 Toyota 4.6 14.0 6 🇩🇪 Audi 4.6 1.2 7 🇺🇸 Ford 4.1 9.3 8 🇯🇵 Lexus 3.9 2.6 9 🇩🇪 Porsche 3.9 0.4 10 🇺🇸 Rivian 3.4 0.3
Tesla is the most popular brand among America's ultra-rich, accounting for an impressive 19.3% of new vehicle registrations.
This popularity is likely due to Tesla's blend of technology and electric performance, which may resonate with wealthy buyers who value innovation and sustainability.
In fact, the ultra-rich are 17.5 percentage points more likely to buy an EV than the average American (85.1% vs 67.7%). This might explain why Rivian, a relatively new car brand, is #10 in this ranking with a 3.4% market share among ultra-rich.
Mainstream brands like Toyota and Ford continue to hold strong appeal among America's ultra-rich.
These brands can deliver a more practical and reliable experience, and are among the cheapest car brands to own and maintain.
Another interesting stat: the Ford F-series pickup truck is the best-selling vehicle in 24 U.S. states.
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