It's a sign of the times. Ultra-high-end luxury car manufacturers Rolls-Royce, Ferrari, and Lamborghini - - previously thought to be immune from the recession - - are seeing the global recession affect their businesses.

United Kingdom-based Rolls-Royce says demand is falling fast in the once giga-GDP growth regions of China and Dubai, and Italy-based Lamborghini said it expects worldwide deliveries to decline in 2009 after rising a modest 1% in 2008, Bloomberg News reported Thursday.

What's another high-end stat, along with a decline in sales of apartments in the heart of New York City -- Manhattan -- that doesn't bode well for the economy? A decline in sales of performance and luxury cars.

Sales of Bavarian Motor Works' namesake brand in the United States plunged 15.2% to a 16-year low in 2008, as the credit crunch and the U.S. recession scared away even buyers for one the world's highest-quality makes, The Associated Press reported Friday.

U.S. sales declined to 249,113 vehicles, The AP reported. Global 2008 sales slumped 5.8% to 1,202,239 vehicles. BMW's shares rose 49 euro cents to 22.39 euros Friday on the Frankfurt exchange.

Economist Richard Felson said BMW's sales decline "is indicative of a pervasive economic slowdown and a loss in confidence, across society and on both sides of the Atlantic."

U.S. automakers, late to recognize the sales implications of spiraling gas prices, have started to adjust their business models, in at least one modest respect: some luxury cars are now being designed to run on regular unleaded gasoline, USA Today reported Thursday.

Regular unleaded gasoline, with an 87 octane, typically costs 20-40 cents less than premium gasoline, with a 91 octane.

Ford (NYSE: F) and General Motors (NYSE: GM) are encouraging dealers to promote their no-premium-gas luxury cars' potential, as a selling point for consumers with budgets pinched by $4 per gallon gasoline, USA Today reported Thursday. Ford rose 5 cents to $4.99, while GM fell 15 cents to $10.10 in mid-day Thursday trading.

Auto mechanic Eddie Renn, based in Larchmont, N.Y., said the fact that automakers are manufacturing more cars designed to run on regular gasoline "is an improvement," but he questions why the automakers are using a lower gasoline cost as a selling point for luxury cars. Renn added that his auto repair business is not affiliated with any auto manufacturer.

Does gas price matter for luxury car owners?

"If you're driving a luxury car and you're concerned about a 20 or 30 cent difference a gallon, maybe you shouldn't be driving a luxury car." Renn said. "The luxury car owners who come in here [to his gas station] aren't concerned about the price of gas, I can tell you that."

Renn said most new cars, excluding sports cars and other vehicles, are designed to run on regular gasoline. A higher percentage of older cars -- particularly those built before 2000, require a higher octane, either mid-grade gasoline (also called 'plus') with an 89 octane, or the aforementioned premium gasoline, with a 91 octane.

With recession fears, housing market worries and high gasoline prices, retailers have been facing tough times and so have luxury car dealers. March proved another tough month for carmakers, with overall U.S. sales declining after the weakening economy put a curb on consumer spending.

Amid the challenging market conditions, even the rich are joining the general anxiety. With the dollar losing ground each day it is difficult to know how much your savings are valued at any more. Then, a simple question appears "Can I afford to buy a luxury car?" It seems like not too many gave a positive answer as most luxury car brands faced sales declines last month.

Sales for BMW fell 8.7%, while Lexus saw a plunge in sales of 13.6%. And even Mercedes-Benz was down nearly 4 percent. Overall luxury vehicle sales fell almost 13% compared with the same month last year, according to Autodata.