I live in an Eastern European country, and I see more BMWs here than my home country (UK). It's not that they are more reliable than other cars (I'd say the opposite infact), but having a BMW (even a 15 year old one that's starting to rust...) gives you status.
Let's take that and ask: this status that having a beemer gives you, do other people care? Or is it status in the owner's eyes?
From another direction, how would an average citizen C of your country size up another person D who's bought BMW? Would C actually think significantly better of D?
I went to a school where there was a large mix of wealth, some kids were extremely well off, multi-millionaire parents, and bought new (expensive and high quality) clothes. Quite a few others bought from charity shops (often of necessity like me). Not once in the years I was there did I ever hear any reference to clothes, or any measure of a person related to their clothing. It was all down to the person you were and I don't imagine our school was any special in that.
It's both. Again, from my own perspective - I know some friends groups where someone saying "dude, Mark has a beemer! And it's a 320d!!!" Means that Mark is now as popular as a highschool cheerleader girl. He will be invited to more parties, to different employment opportunities(even if those opportunities to me and you would be probably a bit "sketchy"), it just makes you popular, and popular people often(but not always) have it easier in life. Again in the same group of people, if Mark wants to do "business" of some kind, people will automatically respect him more and care about his opinion, because clearly, a man with a BMW, an iPhone(fake, but no one knows), golden chain and signet(also fake), must be at least moderately successful - how else would be come to own these things if he wasn't?
And no, I'm not being sarcastic, this is literally how people think.
And also, I think a form of this also exists in the West - I've heard many times that if you drive say, a Ferrari, people will approach you and literally ask "hey, you're successful - how can I get to where you are?". Sure some will be hateful, but some will be genuinely intrigued how you came into possession of this wealth and how can they replicate it.for themselves - they respect you despite knowing absolutely nothing about you, purely because you drive a fancy car. Again, not universal, but I know it happens. Same principle applies to that fake iPhone.
