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I also do not know the target market, but I can tell you why I am attracted to the M4. I'm 46, married, son grown, so no kids. I have two dogs, but will not put them in my car. I like the understated nature of the M cars relative to a Porsche or American muscle car. I like to drive "spiritedly" and like having a car that's sort of unique. I've owned the E92, 2 F82's, and will lease a G82 more than likely when the lease on the 2020 (leased in 2019) is up. I like doing the track days BMW puts on, but have never tracked my own car, but am mustering the courage to invest in this hobby. I have a couple of colleagues at work that track their cars, and they enjoy it.
Anyway, I don't give a lot of thought to what other people like. I don't see any need to mod my car, tint my windows, or change out the wheels, or whatever. I do like reading about what others do, and seeing the pictures. I did use a Carly to code out some stuff on my car, but in fairness I did that on my X2 as well.
When I was a kid, only rich people drove Cadillacs. Now, anyone can drive anything. As someone else said, unlimited options and credit let anyone with a decent job lease a 100k car. There's no status in a car anymore.
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