Top 10 car brands most preferred by ultra-rich households

…Electric and luxury vehicles dominate preferences among households earning over $500,000

A new analysis by S&P Global Mobility has revealed the top car brands preferred by ultra-wealthy households in the United States, defined as those earning over $500,000 annually. Drawing from U.S. Census income data and S&P Global’s vehicle registration and loyalty records.

Tesla leads the pack, accounting for 19.3% of new vehicle registrations among these households. The brand’s popularity appears to stem from its combination of cutting-edge technology and electric performance, appealing to affluent buyers with a preference for innovation and sustainability.

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The analysis found that ultra-wealthy Americans are 17.5 percentage points more likely to purchase an electric vehicle than the average consumer (85.1% vs. 67.7%). This growing interest in EVS also explains the emergence of Rivian, a relatively new entrant in the automotive space, which secured the tenth spot in the ranking with 3.4% market share.

Despite the tilt towards premium and electric models, mainstream brands like Toyota and Ford also retain strong appeal among the ultra-rich. Known for reliability and low ownership costs, these brands offer practical value even to those with significant financial means.

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Here are the top 10 car brands most preferred by ultra-rich households in the United States and their ultra-wealthy market share

1. Tesla – 19.3%

Tesla leads by a wide margin. Nearly one in five new vehicle registrations among high-income households is a Tesla. This compares to just 4.7% among the general population. The preference reflects a growing interest in electric mobility and advanced vehicle technology.

2. BMW – 9.9%

BMW comes in second, with almost 10% of new registrations among the ultra-rich. Its national average market share stands at 2.4%, indicating that the brand appeals strongly to wealthier buyers.

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3. Mercedes-Benz – 8.7%

Mercedes-Benz secures third place. It holds nearly 9% of the market among high-income earners, compared to less than 2% nationally.

4. Land Rover – 5.8%

Land Rover accounts for 5.8% of new vehicle registrations among the ultra-rich. This is a stark contrast to its 0.6% share nationwide, showing concentrated appeal within this income bracket.

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5. Toyota – 4.6%

Despite being a mainstream brand, Toyota makes the list, although its popularity is significantly lower among the ultra-rich compared to the general population. It accounts for 14% of national registrations but only 4.6% in this income group.

6. Audi – 4.6%

Audi matches Toyota in market share among wealthy households but has a far smaller presence nationally, with just 1.2% of total new registrations.

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7. Ford – 4.1%

Ford holds 4.1% of the market among the ultra-rich. Nationally, it is more popular, with a 9.3% share. This shows that while still used by high-income earners, it sees less loyalty from them compared to more premium brands.

8. Lexus – 3.9%

Lexus follows closely with 3.9%. It performs slightly better among the general population, where it holds a 2.6% share.

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9. Porsche – 3.9%

Matching Lexus in share, Porsche has a significantly higher concentration of wealthy buyers. Nationally, its market share is just 0.4%, highlighting its appeal as a niche luxury choice.

10. Rivian – 3.4%

Rivian, an electric vehicle maker, rounds out the list. With only 0.3% national market share, its stronger presence among high-income households suggests growing interest in new EV startups within this demographic.