From the Thomas Stanley American millionaire study.
Chapter 4: You Aren’t What You Drive
A luxury car might be out of place for the factory owner or someone who likes the
outdoors. With a luxury car, you might alienate some of your workers. They might get
the feeling that their boss is exploiting them. You have to recognize that many status
artifacts can be a burden, if not an impediment, to becoming financially independent. Life
has its own burdens. Why add excess baggage?
About 81 percent of millionaires purchase their own vehicles. Only 23.5 percent own
new or recent models. In fact, 25 percent of millionaires have not purchased a vehicle in
4 years.
Fifty percent of most millionaires never spend more than $29,000 in their entire lives on
motor vehicles. About one in five never spend $19,000.
What do millionaires drive? The following are listen in rank order according to their
respective market shares:
1. Ford (9.4 percent)
2. Cadillac (8.8 percent)
3. Lincoln (7.8 percent)
4. A three way tie: Jeep, Lexus Mercedes (6.4 percent)
5. Oldsmobile (5.9 percent)
6. Chevrolet (5.6 percent)
7. Toyota (5.1 percent)
8. Buick (4.3 percent)
9. Nissan and Volvo (2.9 percent each)
10. Chrysler and Jaguar (2.7 percent each)