No, rich people may be rich, but wealthy people have the luxury of time, while sufficient funds to pay for things by not financing unless there are tax benefits to do so. There seem to be a lot of "rich" people where I live but a few of us are wealthy. They run themselves ragged making themselves rich while the rest of us enjoy the quiet luxury of multiple streams of investment income.
Rich people lease those cars through their company so they can write off the payments. Sales are down because the middle class can't buy them anymore because the prices are out of reach.
always buy US-made cars.. they are better and much more reliable.... (edit: sorry... can't even finish that sentence... I'm not very good at making up stuff) 🤣
Rich people aren’t feeling the pain. It’s the people who want to give off the illusion of wealth who are suffering. Yes sales in China are down, that’s not a reflection on BMW and Audi alone. All the foreign manufacturers have experienced a drop in sales.
I work at a major company corporate office. Many, many six figure incomes, some seven figures. Most lease their luxury vehicles. Why? Because they know how to lease well.
Car makers have abused their customers for a long time offering cheaply made expensive "premium" vehicles that are impossibly expensive to buy and maintain.
BMW is having issues because they look extremely ugly after the new chief designer 🤡 Domegoj Ducek took over in 2018. Thank god he was finally fired earlier this year.
I remember seeing my first Lamborghini countache on Rodeo Drive in 1987. The price was $100,000 and I thought it was madness. Today the average car is that price.😂
What that should tell you is you need to study how the government has diluted the money value over decades. All Fiat currency is losing value, some faster than others, start looking into hard assets like bitcoin and gold for wealth preservation and even wealth building when it comes to bitcoin
@@petrolo72👏👏👏👏👏👏👏👏👏. I’m glad somebody on this chat gets it. You can either make videos calling rich people names or you can study and get rich yourself.
I hate BMW! I don't know what I was thinking when I bought a new unreliable 325i in my 20's, which I kept for 11 years. And then here I go again, trading in the 325i for a new X5 right after. Both cars were so unreliable and the costs to maintain and repair was astronomically unethical. Both had electrical issues too. I missed so much time at work taking these cars at the BMW service center BMW's are junk. Do not get enticed by the design.
I have had many brands over the years. Later model BMWs have been the best. Current BMW is five years on the job. The only costs are a new set of tires from a local tire shop, a couple of oil changes at the BMW dealer ($100 each) and a defective rear signal fixed under warranty. Other solid brands have been Honda, Toyota, Mazda. The worst brands have been Ford, Dodge, Kia and VW.
This will always happen when you try to GROW way to fast. All German car companies make too many models, get rid of the BMW 1's and the 2's. cut some out of the others, or loose your company. This is why the resale price is terrible. Audi is a very temperamental car. Repairs will kill your wallet. VW stay away!!
Resale price is terrible because that's what their actually worth. They sell for what the engine is worth. They are a crap shoot. One can last another 100k or 1k no telling how they have been cared for and being maintained by the dealer means nothing. They only maintain them ok enough to get thru warranty.
The BMW X1 is actually the BMW entry-level vehicle and is actually the most reliable model they make. The X2 is basically the same vehicle just smaller. If you want one 2019 and up rate pretty good for reliability. One of the issues with BMW is they charge a lot for parts.
I think that as usual there is a massive confusion between "wealthy" and "rich". As a wealthy person, purchasing a car is not a big deal. Once the details are ironed out, I call my advisor to wire the funds to the dealer. I think that what appears to be "rich" people buying expensive cars and things are high income earners living paycheck to paycheck. That is not how the wealthy live.
I couldn’t agree with you more. Also, there’s nothing wrong with being rich or a high income earner buying things that you want. People who make these videos and refer to successful people as scumbags, etc. etc. sound extremely childish and sounds like they are not where they want to be in life and are looking for others to blame.
@damirzanne I have a 2017 2.0 TDI Skoda superb with 170000 miles on it. No issues apart from a clutch & flywheel at 150000. It has been wonderful so far but I take very good care of it. But you're right, almost everything today is rubbish.
@jerrylundegaard2592 There must be plenty of foolish people throwing money away. The only way I'd have a new Audi being if it was leased & written off as a business expense. I would not have any new Audi out of warranty as very few new cars are made to last as well as my old Audi A4 from 2003 .
friend of mine just got quoted $650 from a dealer to replace a window motor on old Buick , he did it himself for 60 bucks … $250 won’t get you much anywhere , not just BMW
What most people don't understand is the people who buy these cars do it for tax reasons. Waste it on a new BMW or give it to Uncle Sam. They are paying very little for them in the end.
Btw. Audi is not just a Volkswagen because it uses Volkswagen parts it also uses Lamborghini parts. That doesn't make it a Lamborghini either. This guy is slow.
IMO, you're only "rich" if you have enough money that new car and home prices mean nothing to you. If you have a million dollars, you are only upper middle class.
Well, if they built their cars to last more than 24 months, this probably wouldn't be so bad for them. The world will be just fine with no more BMW/drivers...
@@revnation_auto I apologize for my previous comment. I understand and agree with you 100%. Rivian is a company that deserves to go under and the government has no business giving them our hard earned tax dollars. I couldn’t agree with you more. Again, I apologize for speaking before watching the whole video. You are 100% correct.
I don't see your correlation with rich people and this car market. Most of the people that I know that have money want to teach other people how to do the same thing. Rich people buy time, poor people buy things and ambitious people buy knowledge.
Plllleeeaasse...People with money have money because other people dont have money. You are delusional and a fool....I know people with money as well and the last thing they want is other people having a financial upper hand where they could potentially be their competitor...
We're now in some very strange territory where the old Chinese curse applies "May you live in interesting times" All of the wannabe endless status seekers, the fake rich (not the truly rich, they have more sense than this current lot.) all getting their comeuppance So, now we are truly a 3rd world country with a Gucci bag, although that's probably fake
German cars are high price and high maintenance. Buy at your own risk. Only if you have $$$, otherwise it is impractical for regular middle class consumer.
Just like about any other cars , unless you want a Nissan Kicks or Corolla … try to take your car to Buick dealership and see what happens… or any outer dealership for that matter
if you don’t want to pay 50K for BMW SUV , you can always go get a Jeep Gladiator for the same price , or if $140K sounds too much for loaded BMW 740 , you can get a nice Dodge pickup truck for about the same price … average car price in US is around $50K … and if BMW crashing profits are bad, think about 1000 workers who just got fired by Stelantis at Wrangler assembly plant…
Audi- the worst decision you will ever TRY to keep running. Our Dr. had one that sat and rusted in his back yard because mechanics could never find why it wouldn’t run. We also had a little used gas saving Audi, it was in the shop so many times, we traded the @#$%^ thing in on a used Toyota , no trouble w it at all!
Depends on where you live. Where I live in Texas the police hate bicycles and will take any chance they get to ticket you. Seen another mugshot recently where a guy got arrested on sight for running a stop sign and riding on the left side of the road. Riding on sidewalks is also a ticket and so is not having a front white light and rear reflector. On top of that there's no bike lanes so you have to be smart not to get run over and then there's the high crime rate so you have to carry a loaded gun and be ready for the worst. Thinking about selling my ebike and maybe I'll start riding again when I move to a bike friendly state.
I'm on the outskirts of Houston and have a 33 mile commute one way usually but I can work at various locations closer to further away up to 60 miles away. Of course I'm not justifing a BMW, I'm driving a 20 year old beater. What I am saying is it that it would be impossible to do my job effectively and dangerous if I tried to do it on an electric bike. Bikes only work if you have short commutes in the inner city, you don't need to have passengers ever, and don't need to haul anything more than a backpack which applies to a small subset of the population.
The prices you quoted if the $$ just to get into one of these things…. Then u have ALL OF the other expenses…. The higher octane fuel, maintenance visits, PARTS( if you can even try at being a shade tree mechanic)…insurance! Insane numbers…
just think about it this way: even the final non turbo BMW straight six engines were so complicated that u cannot find a mechanic here in the US who has the skills to change out a little vital part called the Vanos spring. Our nation is not competent when it comes to euro cars repairs/overhauls etc. It's not practical any longer to own them here as used cars.
I agree with you wholeheartedly. Also, crazy how pick-up trucks cost about the same these days. Nothing is reliable. Everything has smaller motors with engine killing turbo & super chargers on them.
I think you are spot on. The cars are full of glam and glitz that costs a bundle, fails often and serves little use. Then it costs an arm and leg to get any of it fixed. Cars are a product gone crazy.
Just a note that many responses on here REFUSED to mention or either they are not smart enough to figure it out. Not every BMW consumer is Rich, many of them are typical working class that are trying to impress someone they don't know with borrowed money.
Maybe it's just ordinary people who used to drive these cars when they were more reasonably priced and often discounted saying no to out of control inflation. In a representative sample of one, I paid £34k for a new 320d in 2018 and then 5 years later I was looking to replace it and a new version with the same spec came out at £51k. I'm quite sure the new model was better but it's just not a price I could or would pay so that was the end of that. 50% price inflation in 5 years, if only my own money worked that hard.
I don't know if you have been paying attention, but the rich are doing just fine. A big problem for BMW and the like is that the aspirational middle class is not feeling as good about their prospects with the IT sector shrinking and AI starting to threaten whole categories of high tech employment. German luxury has also been a victim of its own success...these cars do not look or feel all that special. Tesla has taken a bite, for sure. But where the BMW 3-Series seemed like a rite of passage not so long ago, they seem invisible now.
@@revnation_auto it's pretty well insulated/rigged, i sense. It was my field for over 15-25 years. From '15/16 on i left it behind entirely, lost my passion for all things economics/finance for the first time ever.
i've owned a couple of audis over the years. i used to think they were for the rich. funny that what i used to think was for blue collar workers like pickup trucks are more expensive than some of the top of the line audis. probably more reliable too. my q7 rs is worth next to nothing compared to what it cost new. had multiple issues throughout the warranty period. still making expensive repairs out of warranty still under 100k miles. i will basically buy the car twice. they are vehicles to make you broke more likely.
I worked in a large Gov't building in DC. The FBI walked a block down and arrested a Govt. contractor alleged to have double billed the US Govt. for 20 mil. The FBI handcuffed him and perp walked him a block back to their building. Now, on Sept 10, 2001, Fmr. Sec. Def. Donald Rumsfeld stated publicly that the Pentagon couldn't account for 2.3 Trillion. Now, admittedly, I'm bad at maff but, I do know that 20 million is way way way waaaayyy, less than 2.3 trillion. My question is, why haven't the big bad brave FBI gone and perp walked old Rummy? Please keep in mind the 2.e trillion is in 2001 dollars, not the super inflated 2024 dollars today. 🤔🤔🤔🤔
These BMW's just like Jaguar and Range Rover/ Land Rovers ( I had a hard time even remembering the exact names of those last two turds) are absolute maintenance nightmares waiting to inevitably happen. They've got more sensors, ECU's, and relays than the international space station and rest assured they are going to go wrong and usually it's far sooner than the idiot drivers of these ever imagine. Generally when it does happen the amount of money it costs for a goofball mechanic at the dealership to fix or replace it all makes even the most strident trust fund douchebags that buy these "vehicles" wince at the price. This ultimately gives the owners a dose of reality that they really don't have near as many shekels as they thought they had...
Not sure what your issue is with people that can afford to buy luxury cars. The pain is a ripple effect - BMW has invested over 3 billion into SC and employees 23000 workers... all of whom will feel the pain if production slows down.
I looked at new BMWs when I took my car to get serviced. They had very few to choose from. The only ones that don't seem to sell is their EVs. BMW doesn't need a bailout, the reasons their profits are down is because of what is currently taking place in China with EVs. The Chinese have basically stopped buying American, European, and Japanese cars. Causing plant closers there. The BMW plant in Spartanburg SC, employs thousands of people where most of their SUVs are built. It is because of rich people those who work at that plant have a job, even if they can't afford the cars made there. So before you wish the worst for them, at least care about Americans who will suffer if BMW goes under.
If German car companies are truly suffering, it’s only because of their reliability shortcomings. If they offered consistently reliable, luxurious, and non-gimmicky vehicles, they would sell. Lexus has no problem selling their luxury vehicles because although they are not the most exciting, they are some of the most reliable. Porsche has no problem selling their super expensive sports cars either. They are reasonably reliable, luxurious, and down right exciting to drive. They have a good formula going.
Most of you here who criticize the content producer for his qualms with the elite class, Ceo's, and assett management firms are too naive, unintelligent, and apathetic to understand what Blackrock is , ESG, who Larry Fink is, and most certainly what Fink's early life history is....
@@18_rabbit Google Larry Fink's early life history on wikipedia as well as Rob Capito. Honesly all of the ceo's except one share the same early life history. I cant share the results here or otherwise the information will get deleted. Hopefully you can pick up on the pattern recognition and not try to deny the significance of the information.
Rich people generally buy reliable vehicles like previous generation/older Tacomas and 4 Runners. That's how they got rich, by saving money and making good decisions, not buying these overpriced throwaway modern cars.
lol. No the avg person cannot do that at all unless they have a great shop who is unusually skilled and affordable, and even then, for most ppl, the repairs and overhauls will make it unpleasant or unaffordable. Everything changed in the past decade re this.
The servicing costs on those pigs is insane as well. They drive nice for sure, but for how long? The only one I would consider is the M340i. Turbo straight 6. Pretty stout motor. They use to the 530d for highway patrol in Australia and even 2nd hand flogged out ex police beamers have stupid price tags on them at the dealerships. I'll stick with my V6 Camry 👍
I just drove the M340i. It’s slow and not very fun at all. Its suspension can’t handle its weight properly. Cornering was a joke. The interior wasn’t very premium. I’d go with a standard 540i.
@@movdqa there aren't many in Australia either. Only 4% of all 2018-2021 Camrys sold had the V6. The first one I bought was totaled by a runaway bus. Took me 18 months to find another one in similar condition. But they are smooth comfy cheap and made in Japan. Worth hunting down imo. I'm looking for another one for the wife.
What people don't understand is the legacy manufacturers were making most of their profits in China. Not only that they are losing other markets like Norway and Australia Thailand Mexica all over the world except the USA and maybe Europe etc.
Add in the long-term cost of parts, you are looking at a much, much higher pricetag, be it BMW, AUDI or Mercedes. Audi and VW are in huge trouble. Should be an interesting few years ahead for the luxury car market.
I went a few Times in the past to try to inquire about a sales job a few years ago as an experienced auto salesperson ! They snubbed me like a wasn’t good enough to work there !?
Audi is to Mercedes & BMW what Chrysler is to Ford & GM, what Maserati is to Ferrari & Lamborghini, what Mazda is to Toyota & Honda. Just a smaller company playing catchup.
Gladly driving my well maintained 2008 lincoln navigator, no payments, all the way to the bank. Wouldn't spend more than $20,000 on a new car. They can keep them on the lot!
One of my friends just bought an X1. He's a real estate broker in New York and he's very busy. He does deals from $500K to $20 million and a lot of wealthy people have been moving out of the city. He bought his old X1 in 2018 and has had some problems with it. He loves the car though and is just getting a replacement. I'm shopping for a Camry myself but am in no particular hurry.
What is up with calling successful people "scumbags with money?" We live in a capitalist society and as such there are many hard working people who through their savings and investments and/or entrepreneurship have been rewarded financially. Villianizing successful people for buying a luxury automobile just sounds like sour grapes at best.
You lost me at 28 seconds in when you called people who can afford a BMW ’aholes’. People who can afford more expensive things in life are keeping many people in employment, just in case you didn’t know!
You are talking nonsense. Bmw leases 70 percent of their vehicles. They have not posted any incentives except on EVs. Interest rates have jacked up money factor rates which is why people don’t lease them or buy them anymore. A $120k m850i in 2021 was $976 and same car now is $1499 or higher.
All car prices have gone crazy over the last several years. I would bet that as a percentage domestic pickup trucks have increased the most. But in your mind "rich assholes" don't drive those. Right?
Why are you calling people who have money but have decided to hold on to it now “scumbags”? Jealous much? If you dont want or can’t afford these cars then don’t buy one. BMW and the like will figure out the market or the market will usher them out. And startups like Rivian sometimes become major players like Tesla and create a lot of jobs.
People will spend to their income. If they make 300,000 a year people spend on expensive home and cars. They are in massive debt just like people who Make less. That is the American way get in deep debt. The financial crisis of 2008 people were making over a million and had very little savings.
No. Rich people are still rich. Its poor morons who thought they were rich that are in trouble.
totally AGREE
No, rich people may be rich, but wealthy people have the luxury of time, while sufficient funds to pay for things by not financing unless there are tax benefits to do so. There seem to be a lot of "rich" people where I live but a few of us are wealthy. They run themselves ragged making themselves rich while the rest of us enjoy the quiet luxury of multiple streams of investment income.
Yeah and the latter are the mass market for luxury goods.
It's not what you make, it's what you save / invest for the future "you".
Rich people lease those cars through their company so they can write off the payments. Sales are down because the middle class can't buy them anymore because the prices are out of reach.
The thing is you can go to a Ford, GM, or any CJDR dealership and see these same prices on Jeeps , Tahoes and Expeditions.
always buy US-made cars.. they are better and much more reliable.... (edit: sorry... can't even finish that sentence... I'm not very good at making up stuff) 🤣
Rich people aren’t feeling the pain. It’s the people who want to give off the illusion of wealth who are suffering. Yes sales in China are down, that’s not a reflection on BMW and Audi alone. All the foreign manufacturers have experienced a drop in sales.
"Rich" people don't use credit and leases to purchase luxury autos. I suspect this is more fallout from the impending credit collapse.
The only time I would consider leasing a car would be to use it as a business tax write off.
I work at a major company corporate office. Many, many six figure incomes, some seven figures. Most lease their luxury vehicles.
Why? Because they know how to lease well.
Car makers have
abused their customers for a long time offering cheaply made expensive "premium" vehicles that are impossibly expensive to buy and maintain.
BMW is having issues because they look extremely ugly after the new chief designer 🤡 Domegoj Ducek took over in 2018. Thank god he was finally fired earlier this year.
That guy sucked terribly.
They should have kept him on. He was doing a great job wrecking the company 😂
Probably he got hired by Jaguar! 😂
I remember seeing my first Lamborghini countache on Rodeo Drive in 1987. The price was $100,000 and I thought it was madness. Today the average car is that price.😂
The average car is half that.
@@wizzyno1566 The average truck is $75,000. That was Porsche 911 money in the 90's...
That's almost $285K in today's dollars.
What that should tell you is you need to study how the government has diluted the money value over decades. All Fiat currency is losing value, some faster than others, start looking into hard assets like bitcoin and gold for wealth preservation and even wealth building when it comes to bitcoin
@@petrolo72👏👏👏👏👏👏👏👏👏. I’m glad somebody on this chat gets it. You can either make videos calling rich people names or you can study and get rich yourself.
I hate BMW! I don't know what I was thinking when I bought a new unreliable 325i in my 20's, which I kept for 11 years. And then here I go again, trading in the 325i for a new X5 right after. Both cars were so unreliable and the costs to maintain and repair was astronomically unethical. Both had electrical issues too. I missed so much time at work taking these cars at the BMW service center BMW's are junk. Do not get enticed by the design.
I have had many brands over the years. Later model BMWs have been the best. Current BMW is five years on the job. The only costs are a new set of tires from a local tire shop, a couple of oil changes at the BMW dealer ($100 each) and a defective rear signal fixed under warranty.
Other solid brands have been Honda, Toyota, Mazda.
The worst brands have been Ford, Dodge, Kia and VW.
Some people golf.
This will always happen when you try to GROW way to fast. All German car companies make too many models, get rid of the BMW 1's and the 2's. cut some out of the others, or loose your company. This is why the resale price is terrible. Audi is a very temperamental car. Repairs will kill your wallet. VW stay away!!
Resale price is terrible because that's what their actually worth. They sell for what the engine is worth. They are a crap shoot. One can last another 100k or 1k no telling how they have been cared for and being maintained by the dealer means nothing. They only maintain them ok enough to get thru warranty.
The BMW X1 is actually the BMW entry-level vehicle and is actually the most reliable model they make. The X2 is basically the same vehicle just smaller. If you want one 2019 and up rate pretty good for reliability. One of the issues with BMW is they charge a lot for parts.
Rich people vs wealthy people are very different.
I think that as usual there is a massive confusion between "wealthy" and "rich". As a wealthy person, purchasing a car is not a big deal. Once the details are ironed out, I call my advisor to wire the funds to the dealer. I think that what appears to be "rich" people buying expensive cars and things are high income earners living paycheck to paycheck. That is not how the wealthy live.
😂 piss off.
I couldn’t agree with you more. Also, there’s nothing wrong with being rich or a high income earner buying things that you want. People who make these videos and refer to successful people as scumbags, etc. etc. sound extremely childish and sounds like they are not where they want to be in life and are looking for others to blame.
I'm delighted for BMW. If they made cars like they did long ago maybe they'd sell.
We can say the same thing about all other car brands
They used to be quarter million mile cars.
@damirzanne I have a 2017 2.0 TDI Skoda superb with 170000 miles on it. No issues apart from a clutch & flywheel at 150000. It has been wonderful so far but I take very good care of it. But you're right, almost everything today is rubbish.
Locally (DC area) BMWs are selling very well. And the dealers are dealing. Audi as well.
@jerrylundegaard2592 There must be plenty of foolish people throwing money away. The only way I'd have a new Audi being if it was leased & written off as a business expense. I would not have any new Audi out of warranty as very few new cars are made to last as well as my old Audi A4 from 2003 .
BMW - Bring My Wallet
Big Money Wasted
Break My Wallet
Bring Mommies Wallet
@@sydbarrett1146 oh that's a good one!!!! Fits most BMW drivers to a tee!!!!
Big Mexican Wiener
BMW, Benz, VW and Audi all overpriced and bad quality. Let them sit and eat it. Good video!
you haven’t been out there shopping for a new car lately , haven’t you?
So says a guy clueless about BMW.
@@jerrylundegaard2592 latest reliability ratings have BMW rivaling Toyota...so there's that...
@@johnadair6108 only bcuz toyota is having their first hiccup in their entire history!
And don't forget, $250 just to start having BMW look at your vehicle
friend of mine just got quoted $650 from a dealer to replace a window motor on old Buick , he did it himself for 60 bucks … $250 won’t get you much anywhere , not just BMW
@@damirzanne exactly! regular car repairs now are unaffordable, at any shop, even w/ used parts! It's rapidly become difficult to own a used car!
Anyone who pays thousands for these piles of trash has got serious mental issues..
They’re crap for sure
What most people don't understand is the people who buy these cars do it for tax reasons. Waste it on a new BMW or give it to Uncle Sam. They are paying very little for them in the end.
Btw. Audi is not just a Volkswagen because it uses Volkswagen parts it also uses Lamborghini parts. That doesn't make it a Lamborghini either. This guy is slow.
@@revnation_auto why, because you can’t afford one?
Was just filling up at Costco, Premium was $ .70 more a gallon, insane. None of these care are worth a damn. WAY, WAY over priced
If you worry about that $.70 a gallon, a BMW/Audi is way beyond your ability to buy.
NO BAIL OUTS!
Yep, let’s keep calling them out.
Hope ppl are realizing you don’t need to spend 100k for a vehicle you will be tired of way before it’s paid for. Then it’s worth nothing
If your not writing one of these cars off as a business expenses you have no business buying one. If you do. Your mathematically challenged.
IMO, you're only "rich" if you have enough money that new car and home prices mean nothing to you. If you have a million dollars, you are only upper middle class.
Million dollars is rich moron
Well, if they built their cars to last more than 24 months, this probably wouldn't be so bad for them. The world will be just fine with no more BMW/drivers...
What is your issue with wealthy ppl?
His point about a billion dollar company can get tax breaks and bail outs from the government, while the working class gets treated differently.
I support capitalism and hard work. Handouts and unfair advantages are neither of those.
@@revnation_auto I apologize for my previous comment. I understand and agree with you 100%. Rivian is a company that deserves to go under and the government has no business giving them our hard earned tax dollars. I couldn’t agree with you more. Again, I apologize for speaking before watching the whole video. You are 100% correct.
Thanks for the reporting rev, keep up the good work.
Billionaires are the problem. Mass market luxury customers are not the problem.
I don't see your correlation with rich people and this car market. Most of the people that I know that have money want to teach other people how to do the same thing. Rich people buy time, poor people buy things and ambitious people buy knowledge.
This man sure sounds bitter about being broke. I think he needs to lift himself up by his boot straps. Put down his phone and get to work...
I don’t care how much money you got. You can’t buy time. Your money won’t save you from the grave.
Plllleeeaasse...People with money have money because other people dont have money. You are delusional and a fool....I know people with money as well and the last thing they want is other people having a financial upper hand where they could potentially be their competitor...
We're now in some very strange territory where the old Chinese curse applies "May you live in interesting times" All of the wannabe endless status seekers, the fake rich (not the truly rich, they have more sense than this current lot.) all getting their comeuppance So, now we are truly a 3rd world country with a Gucci bag, although that's probably fake
German cars are high price and high maintenance. Buy at your own risk. Only if you have $$$, otherwise it is impractical for regular middle class consumer.
Just like about any other cars , unless you want a Nissan Kicks or Corolla … try to take your car to Buick dealership and see what happens… or any outer dealership for that matter
if you don’t want to pay 50K for BMW SUV , you can always go get a Jeep Gladiator for the same price , or if $140K sounds too much for loaded BMW 740 , you can get a nice Dodge pickup truck for about the same price … average car price in US is around $50K … and if BMW crashing profits are bad, think about 1000 workers who just got fired by Stelantis at Wrangler assembly plant…
If i walk past the shops, pubs, clubs and local restaurants they're all full. I don't see it, people are still spending money into the economy.
Most people have a spending and savings problem .
Audi- the worst decision you will ever TRY to keep running. Our Dr. had one that sat and rusted in his back yard because mechanics could never find why it wouldn’t run. We also had a little used gas saving Audi, it was in the shop so many times, we traded the @#$%^ thing in on a used Toyota , no trouble w it at all!
Sorry if my comment doesn’t really fit your topic. Just venting here, hoping i can help someone from getting taken, even on a used one.
Game over ! Get an electric bike !! No insurance , no gas, no parking tickets !!
Depends on where you live. Where I live in Texas the police hate bicycles and will take any chance they get to ticket you. Seen another mugshot recently where a guy got arrested on sight for running a stop sign and riding on the left side of the road. Riding on sidewalks is also a ticket and so is not having a front white light and rear reflector. On top of that there's no bike lanes so you have to be smart not to get run over and then there's the high crime rate so you have to carry a loaded gun and be ready for the worst. Thinking about selling my ebike and maybe I'll start riding again when I move to a bike friendly state.
I'm on the outskirts of Houston and have a 33 mile commute one way usually but I can work at various locations closer to further away up to 60 miles away. Of course I'm not justifing a BMW, I'm driving a 20 year old beater. What I am saying is it that it would be impossible to do my job effectively and dangerous if I tried to do it on an electric bike. Bikes only work if you have short commutes in the inner city, you don't need to have passengers ever, and don't need to haul anything more than a backpack which applies to a small subset of the population.
I'm too old to ride an electric bike to get groceries...
@@woooose are u exaggerating/?? wtaf? i did not know that about TX, if true! Pls try to gtfo of that is fascism central if it's that bad, holy shit..
The prices you quoted if the $$ just to get into one of these things…. Then u have ALL OF the other expenses…. The higher octane fuel, maintenance visits, PARTS( if you can even try at being a shade tree mechanic)…insurance!
Insane numbers…
just think about it this way: even the final non turbo BMW straight six engines were so complicated that u cannot find a mechanic here in the US who has the skills to change out a little vital part called the Vanos spring. Our nation is not competent when it comes to euro cars repairs/overhauls etc. It's not practical any longer to own them here as used cars.
I agree with you wholeheartedly. Also, crazy how pick-up trucks cost about the same these days. Nothing is reliable. Everything has smaller motors with engine killing turbo & super chargers on them.
yeah , ford.. i'd never buy those turbo v6's. What trash
I think you are spot on. The cars are full of glam and glitz that costs a bundle, fails often and serves little use. Then it costs an arm and leg to get any of it fixed. Cars are a product gone crazy.
Those large kidney shaped grills 🤔 Believe they evolved from the Chinese market, lol.
I don't understand how. I seemorr and more regular people driving these very expensive cars
Just a note that many responses on here REFUSED to mention or either they are not smart enough to figure it out. Not every BMW consumer is Rich, many of them are typical working class that are trying to impress someone they don't know with borrowed money.
My daughter’s mom ran the finance division at a large BMW auto group. The vast majority of their customers are what would be considered rich.
or just someone who wants to enjoy the car of his youth dream
Maybe it's just ordinary people who used to drive these cars when they were more reasonably priced and often discounted saying no to out of control inflation. In a representative sample of one, I paid £34k for a new 320d in 2018 and then 5 years later I was looking to replace it and a new version with the same spec came out at £51k. I'm quite sure the new model was better but it's just not a price I could or would pay so that was the end of that. 50% price inflation in 5 years, if only my own money worked that hard.
precisely! global mkt ,same here in the US, even w/ low end brands, japanese in particular, the prices and segments jumped up dramatically.
not to mention greedy car companies wanting to charge subscription fees for some features such as seat warmers.
I don't know if you have been paying attention, but the rich are doing just fine. A big problem for BMW and the like is that the aspirational middle class is not feeling as good about their prospects with the IT sector shrinking and AI starting to threaten whole categories of high tech employment. German luxury has also been a victim of its own success...these cars do not look or feel all that special. Tesla has taken a bite, for sure. But where the BMW 3-Series seemed like a rite of passage not so long ago, they seem invisible now.
Brother, just wait when the stock market crash to rock ‘n’ roll😂🎉
Fingers crossed
@@revnation_auto it's pretty well insulated/rigged, i sense. It was my field for over 15-25 years. From '15/16 on i left it behind entirely, lost my passion for all things economics/finance for the first time ever.
i've owned a couple of audis over the years. i used to think they were for the rich. funny that what i used to think was for blue collar workers like pickup trucks are more expensive than some of the top of the line audis. probably more reliable too. my q7 rs is worth next to nothing compared to what it cost new. had multiple issues throughout the warranty period. still making expensive repairs out of warranty still under 100k miles. i will basically buy the car twice. they are vehicles to make you broke more likely.
I worked in a large Gov't building in DC. The FBI walked a block down and arrested a Govt. contractor alleged to have double billed the US Govt. for 20 mil. The FBI handcuffed him and perp walked him a block back to their building. Now, on Sept 10, 2001, Fmr. Sec. Def. Donald Rumsfeld stated publicly that the Pentagon couldn't account for 2.3 Trillion. Now, admittedly, I'm bad at maff but, I do know that 20 million is way way way waaaayyy, less than 2.3 trillion. My question is, why haven't the big bad brave FBI gone and perp walked old Rummy? Please keep in mind the 2.e trillion is in 2001 dollars, not the super inflated 2024 dollars today. 🤔🤔🤔🤔
These BMW's just like Jaguar and Range Rover/ Land Rovers ( I had a hard time even remembering the exact names of those last two turds) are absolute maintenance nightmares waiting to inevitably happen. They've got more sensors, ECU's, and relays than the international space station and rest assured they are going to go wrong and usually it's far sooner than the idiot drivers of these ever imagine. Generally when it does happen the amount of money it costs for a goofball mechanic at the dealership to fix or replace it all makes even the most strident trust fund douchebags that buy these "vehicles" wince at the price. This ultimately gives the owners a dose of reality that they really don't have near as many shekels as they thought they had...
Not sure what your issue is with people that can afford to buy luxury cars. The pain is a ripple effect - BMW has invested over 3 billion into SC and employees 23000 workers... all of whom will feel the pain if production slows down.
I looked at new BMWs when I took my car to get serviced. They had very few to choose from. The only ones that don't seem to sell is their EVs. BMW doesn't need a bailout, the reasons their profits are down is because of what is currently taking place in China with EVs. The Chinese have basically stopped buying American, European, and Japanese cars. Causing plant closers there. The BMW plant in Spartanburg SC, employs thousands of people where most of their SUVs are built. It is because of rich people those who work at that plant have a job, even if they can't afford the cars made there. So before you wish the worst for them, at least care about Americans who will suffer if BMW goes under.
Buy used, if you need to buy at all. Only way to make it in this economy.
If German car companies are truly suffering, it’s only because of their reliability shortcomings. If they offered consistently reliable, luxurious, and non-gimmicky vehicles, they would sell. Lexus has no problem selling their luxury vehicles because although they are not the most exciting, they are some of the most reliable.
Porsche has no problem selling their super expensive sports cars either. They are reasonably reliable, luxurious, and down right exciting to drive. They have a good formula going.
Most of you here who criticize the content producer for his qualms with the elite class, Ceo's, and assett management firms are too naive, unintelligent, and apathetic to understand what Blackrock is , ESG, who Larry Fink is, and most certainly what Fink's early life history is....
i can't recall Fink's early life history, pls inform us!
@@18_rabbit Google Larry Fink's early life history on wikipedia as well as Rob Capito. Honesly all of the ceo's except one share the same early life history. I cant share the results here or otherwise the information will get deleted. Hopefully you can pick up on the pattern recognition and not try to deny the significance of the information.
I love my BMW. A 2006 F650GS motorcycle I bought from a Craigslist add for $3,000. Perfect bike for the last 5 years.
Rich people generally buy reliable vehicles like previous generation/older Tacomas and 4 Runners. That's how they got rich, by saving money and making good decisions, not buying these overpriced throwaway modern cars.
A loaded Mustang GT is $68k. Everything is expensive. I agree, just wait until year and see how things look.
It’s gross
You can always just buy an old BMW if you like the feel of the ride. They are just like you said junk, like every other car.
lol. No the avg person cannot do that at all unless they have a great shop who is unusually skilled and affordable, and even then, for most ppl, the repairs and overhauls will make it unpleasant or unaffordable. Everything changed in the past decade re this.
The servicing costs on those pigs is insane as well. They drive nice for sure, but for how long? The only one I would consider is the M340i. Turbo straight 6. Pretty stout motor. They use to the 530d for highway patrol in Australia and even 2nd hand flogged out ex police beamers have stupid price tags on them at the dealerships. I'll stick with my V6 Camry 👍
I just drove the M340i. It’s slow and not very fun at all. Its suspension can’t handle its weight properly. Cornering was a joke. The interior wasn’t very premium. I’d go with a standard 540i.
They do make very good very detailed service manuals for them and you can buy tools at the store. Just saying.
Your V6 Camry is now a classic. They are all fours now.
@@movdqa there aren't many in Australia either. Only 4% of all 2018-2021 Camrys sold had the V6. The first one I bought was totaled by a runaway bus. Took me 18 months to find another one in similar condition. But they are smooth comfy cheap and made in Japan. Worth hunting down imo. I'm looking for another one for the wife.
The major problem is their overpriced cars and the stupid path of going down the EV road.
Most I pay for any car nowadays is 50K total tax, loaded, extended warranty, registration out the door
Prices are much lower on the same cars than what we have in EU, while Americans earn more. So stop crying please.
"Rich A-holes" 😅 💯👍
What people don't understand is the legacy manufacturers were making most of their profits in China. Not only that they are losing other markets like Norway and Australia Thailand Mexica all over the world except the USA and maybe Europe etc.
if I go look around the dealer's lot, how do I determine the number of days the car has been sitting on the lot? Thanks!
Add in the long-term cost of parts, you are looking at a much, much higher pricetag, be it BMW, AUDI or Mercedes. Audi and VW are in huge trouble. Should be an interesting few years ahead for the luxury car market.
Maybe 60.000 instead of 90.000 for that x5 then some people can afford
It’s people who try to look rich by driving an expensive German car who are feeling the pain.😊
I went a few Times in the past to try to inquire about a sales job a few years ago as an experienced auto salesperson ! They snubbed me like a wasn’t good enough to work there !?
Audi is to Mercedes & BMW what Chrysler is to Ford & GM, what Maserati is to Ferrari & Lamborghini, what Mazda is to Toyota & Honda. Just a smaller company playing catchup.
I owned an Audi Q7 diesel Maintenance nightmare, easily spent the cost of the car over on repairs over 7 years
Yep, that’s why I’ve avoided them
Gladly driving my well maintained 2008 lincoln navigator, no payments, all the way to the bank.
Wouldn't spend more than $20,000 on a new car.
They can keep them on the lot!
One of my friends just bought an X1. He's a real estate broker in New York and he's very busy. He does deals from $500K to $20 million and a lot of wealthy people have been moving out of the city. He bought his old X1 in 2018 and has had some problems with it. He loves the car though and is just getting a replacement. I'm shopping for a Camry myself but am in no particular hurry.
Even rich people dont wanna pay 90 grand for a car
Those cars truly are ugly
100% 🐽
What is up with calling successful people "scumbags with money?" We live in a capitalist society and as such there are many hard working people who through their savings and investments and/or entrepreneurship have been rewarded financially. Villianizing successful people for buying a luxury automobile just sounds like sour grapes at best.
LOL, I love the depreciation on "luxury" cars/suv's/whatever. It's easy to get a good "luxury" car cheaply.
Just waaay overpriced ..let them feel the pain
Price is a problem but the loan and financing is a bigger problem and maintenance is really a problem
They are overpricing everything!!
BMW's are junk. I have never and would never buy one of these heaps.
I’m a rich asshole. I don’t have a printing press. I’m
A scumbag too.
Don't so hard on yourself. 😆
You lost me at 28 seconds in when you called people who can afford a BMW ’aholes’. People who can afford more expensive things in life are keeping many people in employment, just in case you didn’t know!
How sad, too bad. These brands have lost the quality of old. Junk.
The X5 is the best car BMW make
You are talking nonsense. Bmw leases 70 percent of their vehicles. They have not posted any incentives except on EVs. Interest rates have jacked up money factor rates which is why people don’t lease them or buy them anymore. A $120k m850i in 2021 was $976 and same car now is $1499 or higher.
When you lose 90% of your profit and don’t offer incentives means that you have some sort of “reassurance”. There’s bigger issues mate!
1:06 Shows a 2025 i4 that has only started arriving at dealers in the last month, says it's been on the lot for 212 days.
That’s a 2024 mate.
@@revnation_auto The grille and headlights are from the refreshed 2025. 2024's had horizontal DRL's. 2025's have vertical.
All car prices have gone crazy over the last several years. I would bet that as a percentage domestic pickup trucks have increased the most. But in your mind "rich assholes" don't drive those. Right?
I don't feel sorry for all those brands
finally, the chickens have come home to roost
It's about time
Me former bmw owner...never again.plastic peice of crap..designed to go 40,000. Miles an thats it..
Wait till March 2025 if you want to buy a new vehicle. That's when the Great Car Crash of 2025 will be in full swing.
Many automakers have lost so much on those EV clown cars so they are trying to make up for the losses by raising prices on everything else…
Why are you calling people who have money but have decided to hold on to it now “scumbags”? Jealous much? If you dont want or can’t afford these cars then don’t buy one. BMW and the like will figure out the market or the market will usher them out. And startups like Rivian sometimes become major players like Tesla and create a lot of jobs.
My Cousin ride a Q5 . but she doesn’t pay a penny . her Dad does 🤭🫠
Ha sounds about right
Trump hopefully will not help these german manufacturers.
well he'll be inclined to help BM and MB bcuz they'z in the south...
I TOTALLY AGREE with you!! I would NEVER buy an AUDI!!!! They are ugly and plain looking!! Like you said, they are really just Volkswagen!!!
7 year loan..n what 400.00 a month for insurance
People will spend to their income. If they make 300,000 a year people spend on expensive home and cars. They are in massive debt just like people who
Make less. That is the American way get in deep debt. The financial crisis of 2008 people were making over a million and had very little savings.
Actually there are cheaper makes..Stellantis ...that have higher days on the lot
better to just rebuild a engine and go old school 15k is better then losing 20 k off the lot
Don't worry cabron! They will get bailed out! Just bet 50 bucks for that shit to go down! I am counting on it 🤣🤣👍👍
Bugs bunny teeth grills on a $70k car is a financial joke and aesthetic abomination
Mercedes been doing great!