Articles of category "Car Luxury"

Last year, Americans bought over half of a million of new luxury cars, accounting for over three percent of total new light-vehicle sales. As we all know, a luxury good is a good. A good in economics is any physical object or service that, upon consumption, increases utility, and therefore can be sold at a price in a market. If an object of such kind is sold or hired for a positive price, then it is most likely that the purchaser considers the utility of the object more valuable than the money. Also it is well known that people spend more when they feel "richer". This means that as people become more wealthy, they will buy more and more of the luxury goods at an increasing rate. Especially it is obvious for luxury cars.

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