From wealthy individuals to corporate clients, limousine ownership is a diverse and interesting topic.
In this post, we’ll explore the demographics of limousine owners, the reasons behind their purchase, and the benefits that come with owning a limousine.
So sit back, relax, and let’s dive into the world of limousine ownership.
Table of Contents
Quick Demographic Facts About Limousine Car Owners
Limousine buyers in the US are mostly males (60%) with ages varying between 35-54 years old. 80% of buyers are white, educated with some college or bachelor’s degree, and have an annual household income of more than $50,000.
These numbers give a glimpse of the current demographic landscape of limousine car buyers and users, showcasing the age preferences and usage patterns in the market.
Here are some more demographic facts.
Age Demographics Limousine Car Buyers
|Age Range||Percentage of Limousine Buyers|
The 18-to-34 age group make up 45% of luxury vehicle buyers, in general. Baby Boomers represented around 36 percent of new car sales in 2021.
This data indicates that younger age groups lean more towards luxury vehicles, while older demographics tend to own more practical and economical cars. The shifting age trend in new and used car buyers can have implications for the luxury car market, including limousines.
Gender Demographics Limousine Car Buyers
|Gender||Percentage of Limousine Buyers|
Men represent a higher percentage of limousine car buyers than women
General statistics of car buyers and limousine owners, in general, shows that the limousine car buyer demographics follow a similar trend, with a stronger inclination towards male buyers.
Ethnicity Demographics of Limousine Car Owners
|Ethnicity||Percentage of Limousine Buyers|
- White limousine drivers make up the largest proportion, at 55.8%.
- Hispanic or Latino drivers come next with 22.8% representation.
- Asian drivers account for 8.8% of the limousine driver workforce.
- Black or African American drivers represent 8.4% in the industry.
These statistics show that limousine ownership and driving demographics are diverse yet still have a major representation from the White demographic, followed by the Hispanic or Latino demographic.
It’s worth noting that other ethnicities continue to contribute significantly to the limousine market.
Education Level Demographics of Limousine Car Buyers
|Education Level||Percentage of Limousine Buyers|
|High School or Less||20%|
|Master’s Degree or Higher||15%|
The data above demonstrates that Limousine car buyers come from various educational backgrounds. However, a higher percentage of buyers possess a Bachelor’s degree or higher, suggesting that people from more advanced educational backgrounds are commonly interested in purchasing limousines.
Average Income Level of Limousine Car Owners
A few important statistics about luxury car owners and their average incomes have been outlined below.
- The average income for a luxury car owner is about $100,000; however, this number can range from $80K to $150K, depending on the state.
- Two primary household income groups account for most new vehicle purchases: under $50,000 per year (mostly single-person households) and $100,000 per year and up (mostly families).
These figures highlight the substantial income levels of luxury and limousine car owners. It’s essential to recognize that these numbers can vary by state, vehicle type, and household structure when analyzing this demographic.
Other Interesting Facts About Limousine Car Buyers
- Limousines were first developed in 1902 as a luxury vehicle for the rich.
- The longest limousine in the world is 100 feet long and has 26 wheels.
- The average length of a stretch limousine is around 28 feet.
- A standard 6-passenger limousine can rent for about $70-$150 per hour.
- A Hummer limousine can cost around $150-$300 per hour to rent.
- Limousine services in the United States generated $5 billion in revenue in 2018.
- The global limousine service market size is projected to reach $9.8 billion by 2026.
- The most popular event for renting a limousine is for prom, followed by weddings and corporate events.
- The limousine industry in the United States employs approximately 275,000 people.
- The average limousine driver makes around $30,000 per year.
- The number of limousine companies in the United States has increased by 24% since 2013.
- In 2019, the limousine industry in the United States saw a growth rate of 2.2%.
- The most common types of limousines are SUVs, Hummers, and Chrysler 300s.
- In 2018, the most popular limousine model was the Lincoln Town Car.
- Limousines can typically hold between 6-20 passengers.
- The limousine industry in Canada is worth approximately $2.5 billion.
- Over 400,000 limousines are in operation worldwide.
- In 2018, the largest limousine market was in North America, followed by Europe and Asia-Pacific.
- Limousines are not allowed to be over 30 feet long in the state of California.
- Limousines must pass a series of safety inspections before being put into service.
- The cost of insurance for a limousine can range from $3,000 to $5,000 per year.
- Limousines are required to have a commercial driver’s license to operate.
- Limousine drivers are required to have a chauffeur’s license in most states.
- Limousines typically have a higher fuel cost than standard vehicles.
- Limousines have a lower maintenance cost than most luxury vehicles.
- The largest limousine market in Europe is in the United Kingdom.
- Limousines can be rented for special events such as birthdays, anniversaries, and bachelor/bachelorette parties.
- The average limousine rental in the United States is for about 3 hours.
- The most popular color for a limousine is black.
These statistics reveal an intriguing side to the limousine industry, highlighting the financial aspects of purchasing or owning a limousine as well as the types of vehicles prevalent within the market.
The book “The Limo Business” by Christian Faith Publishing
And these web articles: