Cars can be status symbols and objects of pride to their owners, even defining financial and professional success for some people. Yet, when it comes to which car brands define wealth and prestige, some of them might surprise you.
Indeed, thinking of cars defining an elite status in society often conjures images of a Ferrari, a Maserati or a Rolls-Royce, for instance.
Yet, contrary to popular belief, while a SoFi report listed a few brands that are well-known for their price tag and status, it also listed ones that are more accessible — albeit still pricey.
As Edmunds reported, “the line between a luxury car and a mainstream car is blurrier today than ever,” adding that in turn, “the price gap also narrows.”
The SoFi report noted that brands popular with rich Americans generally “have a reputation for superior performance, craftsmanship, high-quality materials (inside and out), and advanced technology.”
“They also may have extra amenities to make them more comfortable and attractive, and to provide a better driving experience,” according to SoFi.
Of note, while many wealthy Americans drive luxury vehicles, an Experian Automotive study found that 61% of households with an income of more than $250,000 don’t drive luxury brands. Instead, they drive less showy cars, such as Hondas, Toyotas and Fords, according to a Ramsey Solutions article.
This German brand increased its popularity in the U.S. in the 80s, according to SoFi, notably with its Quattro model, an all-wheel-drive sport coupe.
BMW
According to SoFi, this brand is “the best-selling luxury auto worldwide.”
Cadillac
Cadillac — owned by General Motors — is the country’s “most prestigious domestic luxury automaker,” according to SoFi. While the brand generally appeals to older drivers, younger drivers like the Escalade SUV and CTS sport sedan models, SoFi noted.
Genesis
This is a newer car brand that “built its reputation by offering luxury at a competitive price,” according to SoFi.
Land Rover
The Land Rover brand, which sells only SUVs, is “iconic,” according to SoFi.
Lexus
Toyota owns Lexus, which, according to SoFi, was named “the most reliable of all car brands in 2023 and 2024 by J.D. Power Associates.”
Mercedes-Benz
According to SoFi, the German brand has a loyal fan base and is known for its “attention to detail and focus on customer service and comfort.”
Tesla
Finally, Tesla is considered by many to be the leading brand in the electric vehicle (EV) market and boasts cutting-edge technology.
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