Hyundai has been trying to change its image from a builder of low-priced cars with models like the Genesis and Equus. Although some people may have a hard time buying a Hyundai luxury car, it looks like some of the most wealthiest people are buying Hyundai’s luxury models.
According to Hyundai CEO John Krafcik, wealthy American Express Centurion Card holders (Black Amex) buy Hyundais at a higher rate than originally expected. Six percent of Black Card holders say they have a Hyundai in the garage, which is tied with Bentley and Audi. The top brands are BMW with 22% and Mercedes-Benz with 21%.
The average Black Card holder has $16.3 million in assets and an annual household income of $1.3 million.