No One Loves Red Like North American Car Drivers, Report Reveals

While a vast majority of North American drivers have a penchant for dull vehicle colors, they possess an unexpected affinity for red cars, surpassing global preferences.

Top Vehicle Colors in North America: In 2023, a staggering 80% of North American drivers favored white, black, gray, or silver vehicles, according to the annual report on vehicle coatings by global chemical producer, BASF, headquartered in Germany.

White emerged as the most popular, followed by black and silver. Interestingly, shades of silver gained traction after automakers phased out several gray colors, as noted in the report.

In a curious twist, despite the predilection for dull colors, North American drivers exhibit an outsized fondness for red cars compared to the global average. In 2023, 8% of North Americans opted for a red color, well above the global average of 4%. Similarly, 9% chose blue, exceeding the global average of 8%. Nonetheless, blue remains more popular in EMEA countries, constituting 11% of produced vehicles.

BASF Color Designer for North America, Elizabeth M Hoffmann, remarked, “We’re witnessing a shift akin to other regions. The conventional color palette is no longer adequate. Lighter shades are gaining favor, eroding gray’s market share. The availability of choices with effects pigments intensifies their allure.”

Global Color Preferences: The North American penchant for subdued colors mirrors global trends. While white remains the top choice across regions, its market share has waned, overtaken by the surge in black’s popularity.

Are the wealthy getting away with not paying their fair share of taxes, or are they carrying an unfair burden? The debate over the top tax bracket rages on as concerns about income inequality and the concentration of wealth at the top of the economic ladder continue to make headlines. Senators Bernie Sanders and Elizabeth Warren have both proposed a wealth tax on the ultra-rich, while even multi-billionaire Warren Buffett has vocally expressed support for the idea, suggesting that it is fair for wealthy Americans to be taxed at a higher rate.

Currently, the top federal income tax rate stands at 37%, applicable to incomes of $539,000 and higher for single taxpayers and $647,850 and higher for couples filing jointly. However, historical data reveals that the top marginal tax rate has been significantly higher in previous eras. In 1944 and 1945, it peaked at a staggering 94%, and in the late 1980s, it hit a low of 28% under former President Ronald Reagan.

Historical Context and Present Day

The taxation of the wealthy has fluctuated significantly throughout U.S. history, demonstrating both higher and lower levels of taxation than the current status. This historical perspective adds complexity to the ongoing debate regarding whether the rich are paying their fair share of taxes. Despite the disputes, recent data from the IRS sheds light on the current tax scenario.

Top 1% Tax Contributions

In 2020, the top 1% of taxpayers—those earning $561,351 or more—contributed a significant 42.3% of the total tax revenue collected. This translates to the top 1% paying more income taxes than the bottom 90% combined. Astonishingly, the top 1% paid a staggering $723 billion in income taxes, while the bottom 90% collectively contributed $450 billion.

State-Level Analysis

Examining the tax burden on the wealthiest individuals at the state level yields interesting findings:

Alabama Minimum income to be considered 1%: $404,560 Average income of the 1%: $1,107,769 Average income tax paid by the 1%: $263,845 Average tax rate of the 1%: 23.82% Alaska Minimum income to be considered 1%: $466,905 Average income of the 1%: $999,772 Average income tax paid by the 1%: $253,754 Average tax rate of the 1%: 25.38% Arizona Minimum income to be considered 1%: $485,146 Average income of the 1%: $1,464,848 Average income tax paid by the 1%: $369,426 Average tax rate of the 1%: 25.22% Arkansas Minimum income to be considered 1%: $387,666 Average income of the 1%: $1,483,925 Average income tax paid by the 1%: $313,266 Average tax rate of the 1%: 21.11% California Minimum income to be considered 1%: $726,188 Average income of the 1%: $2,430,790 Average income tax paid by the 1%: $655,180 Average tax rate of the 1%: 26.95% Colorado Minimum income to be considered 1%: $609,919 Average income of the 1%: $1,799,148 Average income tax paid by the 1%: $465,284 Average tax rate of the 1%: 25.86% Analysis of Minimum Income of the Wealthiest 1% and Average Tax Rates by State Analysis of Minimum Income of the Wealthiest 1% and Average Tax Rates by State

Beyond blue and red, other bright colors such as green, beige, brown, orange, yellow, and violet claim a modest market share worldwide.

Image Created With Dall-E AI

Explore more of Benzinga’s Future Of Mobility coverage.

Read More: Designer Says He Was ‘Stuck In The Future’ As Tesla Took His Black, Wrapped Cybertruck Out For A Photoshoot

Monster Stock: A Market-Beating History and the Looming Threats Monster Stock: A Market-Beating History and the Looming Threats

VanEck Semiconductor ETF: A Steady Investment for Long-Term Gains VanEck Semiconductor ETF: A Steady Investment for Long-Term Gains

No One Loves Red Like North American Car Drivers, Report Reveals The Colorful Quirk of North American Car Drivers