watch now'Every new car is a luxury purchase'Part of the problem is that more Americans want expensive SUVs and pickups with all the options, he added, which can cost as much as 40% more than the base price. Over the last decade, luxury shoppers have proved again and again their willingness to spend more on high-end cars and the financing to go along with them. Even the smallest upgrades have been met with soaring demand, Drury said, citing the extreme enthusiasm over the Honda Odyssey's built-in vacuum option when it was first introduced in 2014. Now everyone wants high-tech touch screens, ambient lighting, 360-degree cameras and heated and cooled seats, Drury said, which cost even more. With the lucrative luxury segment in high demand, carmakers are upgrading their lineups and scaling back on less expensive cars.

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