I would have felt awkward driving the Mercedes-Benz S500 in my 20s. There is something overly formal, if not outright pretentious, about a young man helming a car like this. Young men should be spending their money, assuming they have this kind of money to spend, on faster, sleeker, sexier cars, like Porsches or BMWs . They shouldn't be in a hurry to drive the S500. After all, good things come to those who wait.

 

The reason is that this is an adult's car. It is solid, handsome, stately; every seam and detail is imbued with a gravitas redolent of success, maturity and, yes, physical comfort. This is the car you buy when you've already had your mid-life crisis, once you have lost interest in the shiny toys that glittered so brightly and deceptively in your youth. The S500 is for people who have not only already seen the world but also, frankly, own a fair amount of it.

 

With the exception of the extravagantly priced Rolls-Royce Phantom , Bentley Arnage or a Maybach --also owned by Mercedes' parent company DaimlerChrysler (nyse: DCX - news - people )--there are few grander or more generously proportioned sedans in the world. There is a reason why it is often the conveyance of choice for industrialists, financiers, shipping magnates and statesmen.

 

What is interesting is that although the number of wealthy individuals in the world has increased--the number of billionaires eligible for a place on the annual Forbes list of the World's Richest People rose nearly 18% in 2005--sales for the S500 are dwindling. From the first quarter of 2004 to the same period this year, sales fell 21% to 3,476. This can in part be attributed to the fact that the current version, introduced at the Paris Motor Show in 1999, is looking a little old and is due for a redesign. (A spokesman for Mercedes says that a new S500 will be available in 2007.)

 

There are other concerns as well. At the end of March, Mercedes announced a worldwide recall of nearly 1.3 million of a range of its cars. Although the S500 was not included in this particular recall, quality control problems have been dogging the Stuttgart, Germany-based company recently, and the S500 has not been immune. In fact, last year Mercedes issued two recalls on the S-Class, both of which affected 2003 and 2004 cars. Consumer Reports gives new S-Class models a "predicted reliability" rating of "poor," the lowest on its scale. This rating is based on the S-Class' unspectacular reliability in the past.

 

However, for what it's worth, the S-500 isn't alone in seeing a sales drop, the BMW 7 Series has also declined--although that may have more to do with continued poor reception to the redesign that was introduced in 2002 .

 

Recalls and redesigns aside, does the S500 deserve this slide? Are there other factors contributing to this decline or is it just getting a bum rap? To find out more, read on.