Ross Graduates Prefer to Purchase BMWs and Hondas
Aroni Sen
Issue date: 4/7/08 Section: Features
Question to the graduating class of 2008: are you an import-loving, performance-craving, hybrid-hating cheapskate, who wouldn't pay a premium for all the gee-whiz technology in an electric car? If you answered no, then you are in the minority according to a recent survey conducted by the MSJ.
The survey was sent out to assess automotive choices and preferences of graduating BBAs, MBA2s and Evening MBAs. Thank you for the fabulous response - we received a grand total of 188 hits (though not everyone completed the survey). The responses were split about 23% to 77% between BBAs and MBAs. 57% indicated they were planning to buy or lease a new vehicle within the next 6 months, with only 31% of them planning to lease rather than buy. Here's wishing you the best as you work your way through the lease vs. buy decision making process from finance class.
With respect to brands, the Bavarians and Japanese took home the bacon (or beer, or sushi). Among luxury marquees BMW was the top choice for 22%, with Acura and Cadillac tied for second place at 13%. Yes, that is the very American Cadillac. I wonder if a recent review of the Cadillac CTS in the MSJ had something to do with this strong showing. Surprisingly, no one indicated they wanted a Mercedes or Land Rover (Tata, are you paying attention?).
Among non-luxury brands, Honda led by a wide margin as the top choice for 24% of respondents. Toyota and VW were a distant second, tied at 10%. Several brands had no takers - Dodge, Isuzu, Kia, Mercury, Mini, Scion, Smart and Suzuki. Mini? That icon of branding success, held up and worshipped in marketing classes, has been brought down to its knees by Ross graduates.
One enterprising (or should I say really rich bloke?) graduate plans to purchase a Koenigsegg. A whose egg, you ask? You are forgiven for not knowing a Koenigsegg from an ostrich egg. Founded in 1994 by Christian von Koenigsegg at the age of 22, this Swedish maker of exotic supercars hawks its wares for well above a million euros each. Take inspiration all ye aspiring entrepreneurs.
As to the top reason quoted for selecting a particular vehicle, 39% said "power and performance". Quality was second at 15%. In this time of $100 per barrel oil and $4 per gallon gas, fuel economy was a top priority for only 5%. That's great news - Ross grads must be raking it in!
Not so great news for the environment though. 87% of respondents indicated they were not planning to purchase a hybrid. However, 59% would be willing to purchase an electric vehicle operating solely on battery power if it were available. And how much of a premium are Ross grads willing to pay for this electric, super, high-tech car? 40% said "nada"! "zero"! "zilch"! A further 30% were willing to part with $1000 to $2000, while only 5% were willing to pay more than $5000. Take heed GM, Nissan, Tesla and Th!nk - the path to automotive electrification nirvana may not be all lined with gold.
Signing out! Till the next time…
The survey was sent out to assess automotive choices and preferences of graduating BBAs, MBA2s and Evening MBAs. Thank you for the fabulous response - we received a grand total of 188 hits (though not everyone completed the survey). The responses were split about 23% to 77% between BBAs and MBAs. 57% indicated they were planning to buy or lease a new vehicle within the next 6 months, with only 31% of them planning to lease rather than buy. Here's wishing you the best as you work your way through the lease vs. buy decision making process from finance class.
With respect to brands, the Bavarians and Japanese took home the bacon (or beer, or sushi). Among luxury marquees BMW was the top choice for 22%, with Acura and Cadillac tied for second place at 13%. Yes, that is the very American Cadillac. I wonder if a recent review of the Cadillac CTS in the MSJ had something to do with this strong showing. Surprisingly, no one indicated they wanted a Mercedes or Land Rover (Tata, are you paying attention?).
Among non-luxury brands, Honda led by a wide margin as the top choice for 24% of respondents. Toyota and VW were a distant second, tied at 10%. Several brands had no takers - Dodge, Isuzu, Kia, Mercury, Mini, Scion, Smart and Suzuki. Mini? That icon of branding success, held up and worshipped in marketing classes, has been brought down to its knees by Ross graduates.
One enterprising (or should I say really rich bloke?) graduate plans to purchase a Koenigsegg. A whose egg, you ask? You are forgiven for not knowing a Koenigsegg from an ostrich egg. Founded in 1994 by Christian von Koenigsegg at the age of 22, this Swedish maker of exotic supercars hawks its wares for well above a million euros each. Take inspiration all ye aspiring entrepreneurs.
As to the top reason quoted for selecting a particular vehicle, 39% said "power and performance". Quality was second at 15%. In this time of $100 per barrel oil and $4 per gallon gas, fuel economy was a top priority for only 5%. That's great news - Ross grads must be raking it in!
Not so great news for the environment though. 87% of respondents indicated they were not planning to purchase a hybrid. However, 59% would be willing to purchase an electric vehicle operating solely on battery power if it were available. And how much of a premium are Ross grads willing to pay for this electric, super, high-tech car? 40% said "nada"! "zero"! "zilch"! A further 30% were willing to part with $1000 to $2000, while only 5% were willing to pay more than $5000. Take heed GM, Nissan, Tesla and Th!nk - the path to automotive electrification nirvana may not be all lined with gold.
Signing out! Till the next time…
Be the first to comment on this story