My dad's car (Volvo) has leather seats and they are not in good condition. My car (Honda), on the other hand, is 8 years old and the cloth seats are in excellent condition.There is that perception, yes. There other factors also though ..
One of those being that if you buy the type of vehicle that will have value for 20 odd years, or more, cloth upholstery will be knackered in less than 10. The cost of re-upholstering a vehicle, just the once, far exceeding the cost of having leather upholstery in the first place.
Unfortunately that makes leather a sound financial investment for anyone buying new vehicles in certain quality bands.