AND THAT'S GOOD FOR LUXURY: Somehow politicians have led us to believe that rich people shouldn't get richer. But if they do, what is so wrong with that? Especially since, in America, the ranks of the rich are full of people who once were poor. So, if the rich get richer, won't they want to use more limousines and chauffeured vehicles? Among its diverse mix of clients from various socio-economic strata, the limousine and chauffeured transportation industry caters to a vast luxury consumer segment, or those people constantly demonized for being among the top 5% of wage-earners.
The lastest IRS figures show the ranks of those Americans with a net worth of $1.5 million or more increased between 1998 and 2004. As we've referenced before here on LL, the bread-n-butter wealthy clients of chauffeured transportation appear to be holding their own. -- M.R.
Print | posted on Thursday, August 28, 2008 4:50 PM