Don’t discount that a big part of the “utility” of a vehicle purchase for many people is the emotional and/or status part of it. One interesting business example is a cohort who travels a lot on business and bought a $65k truck as a commuter vehicle for sales work. A $15k hatchback would have worked but their clientele attached a lot of status to a big ol’ fancy ranch truck.

Not saying it’s rational but like you said, there’s a lot of different dimensions to utility