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Why do luxury cars have massive engines?

Audis, Cadillacs, Acuras, BMWs, etc. They all have just about 300+ hp engines. Is there a reason for this?
I understand if you're going to pay $50k+ for a car, you want to get all you can out of it but is this really a luxury people who don't tune up cars use?
I dunno. Everyone I've known who's owned cars like these hardly uses the full power of the engine.
Unless, of course, they race it out. Bypassing the luxury side of the car in general...

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