They're riding on the brand equity they built up in the past, and on the halo effect of their high-end cars. But there is a well established precedent of luxury

They're riding on the brand equity they built up in the past, and on the halo effect of their high-end cars. But there is a well established precedent of luxury goods makers enjoying a large price premium for products of minimally higher physical utility. They are selling socially valuable tokens of prestige more than they are transportation machines, and will be OK in the end.