(Our Auto Expert) – Research shows that American adults of all ages and income levels are getting swept up in the luxury goods boom, including cars, that is currently underway. But what exactly is a luxury car? 

A luxury vehicle promises quality, craftsmanship, exclusivity, and a high price tag. Luxury car makers BMW and Mercedes grew during 2022, when many car companies declined at the end of the pandemic. 

According to Bain & Co research, millennials and younger generations will make up 80 percent of luxury spending by 2030, showing the growth in luxury cars. 

This year, according to Forbes’s real-time billionaire ranking, Bernard Arnault, the CEO of ​​Moët Hennessy Louis Vuitton, even overtook tech emperor Elon Musk as the richest person on Earth with an estimated $232 billion. This is a demonstration of the importance of luxury to the market. 

The average price of luxury items has spiked by 25 percent in the last year. Mercedes-Maybach presents Night Series – the next chapter in the brand’s mission of evolving its curated portfolio and creating moments in which magic is born. 

It showcases striking details such as dark chrome elements, surfaces that catch the light like a cut jewel, and interiors that elevate Maybach’s design to new heights. 

The progressive design package is available across the Mercedes-Maybach model range – EQS SUV, GLS, and S-Class. Maybach is expecting a new and younger audience with these vehicles. The price tag of the night edition will be around $30,000 more than the regular Maybach ​vehicles for this exclusive luxury trim level.

BMW is one of the world’s strongest luxury brands. The 2023 BMW i7 xDrive60 is just the latest in a growing line of new BMWs that are as startlingly good to drive as they are startling to look at. 

Given the company’s history, you’d expect any all-new 7 Series to be a great car, but getting the electric version so right on the first go-round is worthy of commendation. 

Rolls Royce will launch their new hyper luxury all-electric car later this year, “Spector.” 

Spector is worth around $600 million annually in income for Rolls Royce. Alfa Romeo, the historic Italian luxury brand, will be making a new play in the American market with the sub-compact plug-in hybrid CUV, the Tonale. 

Alfa Romeo will continue to promote its limited edition cars and SUVs, including the high-performance Stelvio special editions. 

Luxury car sales are on the rise, and with new models being introduced, it’s clear that the market is expanding. 

Whether you’re a fan of BMW, Mercedes, Maybach, Rolls Royce, or Alfa Romeo, there’s something for everyone in the luxury car market, despite your age or Income level.