Large diameter (or low profile) tires are popular because they help in cornering and because they look cool.

What is lost is the fact that wheel rims are heavier than rubber tires. So these assemblies have more rotational inertia, making them harder to accelerate and harder to stop. That's why gas mileage suffers. The assemblies also have more unsprung weight, which hurts comfort and reduces contact with the road when going over bumps.

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95 E320 Cabriolet, 159K