BMW: The Rich Avoid The Recession

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The recession and its aftermath have not damaged the luxury car market. Mercedes and Audi have said they expect good 2012 sales. BMW reports it expects a record year, because of the strength of its new 3-series mid-sized four-doors and coupes. BWM’s pretax profit last year was $9.72 billion, which is especially impressive for a car company that only caters to the top end of the market. Many residents of developed and developing nations continue to suffer from the aftershocks of the global recession and new high gas prices. The rich do not seem to be suffering though.