True.
As said many times: at least in most markets worldwide premium is also associated with (brand) history & heritage very much ... with the soul behind the product. The human involvement ... the vision, the passion, the desire, the emotions ... through the time. Something that's very hard to recreate artificially.
Eg. most of the Dubai or Abu Dhabi luxury etc ... Only few spots there have some heritage - as a base for a true prestige ... mostly in Persian area (Iraq / Iran). But the new luxury is purely artificial - although the products are beyond great.
Such luxury appeals to fashion-centered nouveau riche - like the Becks, Ronaldo etc. Wanting something of great quality, but often soulless & usually flashy & ostentatious ... without any heritage. Such people who don't care about past (history & heritage & tradition) but caring only about present & future. If they accidentally love some historic things it's often because it's fashionable - not due to the content.
Yes, before somebody else brings that on

: eg. RR also cater to these modern tastes ... but at least based very much on the heritage ... since RR always has been an opulent car / brand.
@ Chris ...
True. Lexus still uses that US formula in Europe: luxury = big & powerful. Which is not the case in Europe.
It looks like they've found a niche for some markets (like ES for the South Korea, or hybrid models for Japan - offering something rivals don't).
But this Euro plans with compact car ... I'm very much skeptical ... It's not a niche, the segment is crowded. Lexus can't offer nothing new here ... Not even a compact hybrid won't do much ... Since hybrid hysteria has not hit Europe as much as did US & Japan. And in a few years that won't be Lexus advantage anymore - since also other carmakers will start to offer hybrids in the segment.
A price-attractive compact car, with luxury features, and super-efficient & clean sporty small (1.8 or 2.0L) diesel engine ... perhaps even diesel hybrid - that would put Lexus on the map in European markets instantly. But Toyota / Lexus lag behind in diesel tech much ... So, no candy for Lexus.
