Car Buyers Downsize, but Spend Big on Options
From The New York Times:
Consumers used to buy small cars for a simple reason: they were cheap. A decade ago, many budget-minded shoppers turned down even options like air-conditioning, power windows and compact disc players to keep the price low.
Now people of all income levels are buying small cars to pinch pennies at the gas pump, but they are not scrimping on creature comforts. Instead, they are spending hundreds or even thousands of dollars on options, like heated leather seats and high-end entertainment systems, usually found in luxury cars.
Consumers used to buy small cars for a simple reason: they were cheap. A decade ago, many budget-minded shoppers turned down even options like air-conditioning, power windows and compact disc players to keep the price low.
Now people of all income levels are buying small cars to pinch pennies at the gas pump, but they are not scrimping on creature comforts. Instead, they are spending hundreds or even thousands of dollars on options, like heated leather seats and high-end entertainment systems, usually found in luxury cars.
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