While the average Americans have a hard time paying their loans or getting new ones, automakers and dealers are posting record profits. And it’s all thanks to the rich. In the past five years, the share of people buying cars above $50,000 have increased by several-fold. Chasing the rich is the new growth strategy in many industries, including autos. Watch the video to learn more about how this shift happened and why economists warn it’s risky.
Chapters:
00:00 Introduction
01:26 Chapter 1: The data
04:26 Chapter 2: Tilting toward the rich
09:03 Chapter 3: Concerns
Producer: Robert Ferris
Editor: Evan Lee Miller, Darren Geeter
Animation: Josh Kalvin, Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional footage: Cadillac, Chevrolet, Ford, Getty Images, Honda, Hyundai, Kia, Lucid, Mercedes-Benz, Nissan, Porsche, Rivian, Stellantis, Toyota, Volkswagen
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Why Wealthy Buyers Suddenly Dominate Car Sales In The U.S.
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