It was popular in the 70's and 80's when the big bosses didn't everyone to know they were driving a top of the range whatever. They wanted to be able to bounce off the speed limiter on the autobahn without being too obvious about it in the company car park.
I've always thought was quite cool. Although it actually could have been because they were worried about being kidnapped by the Baader Meinhof gang. Which puts another complexion on it entirely.
Although I suppose it does reduce the chances of my being targeted by any Just Stop Oil activists AND by any NW London Marxist Leninist urban guerilla groups.