At the Morgan Stanley Global Automotive Conference earlier this month, Lexus Group Vice President and General Manager Bob Carter spoke to analysts about the future of the brand, and the industry as a whole. More specifically, he spoke about what changing market conditions and consumer values will mean to the luxury industry.
Carter said he sees the so-called Generation Y as being a big force behind sales of expensive automobiles. “These young consumers are not only smart and savvy; they have more disposable income than any previous generation,” he said. “One out of three high school seniors carries a credit card, and together, teenagers and college students now control $375 Billion in spending power.”
As a new generation of young people enter the business world, they will begin to pick vehicles based on status, craftsmanship, and design, Carter says. “The Gen Ys are entering the business world and have much higher expectations about their cars than any previous generation.”
Carter said the information age, biotech, and nanotech are setting the world up for a new “Golden Era” for the auto business. He points to an American Demographics study that predicts growth in the next two decades so strong that “it will rival the growth America experienced right after World War II.”
04/28, 4:46 PM
posted by:
Carlos
It also helps that fewer and fewer people care about the act of driving anymore.
04/28, 5:25 PM
posted by:
Jon
And since they care less about it, the auto makers add worthless and dangerous distractions to the cars like multi-chip computer systems with split wide screen, high-resolution LCD screens capable of displaying whatever information the person desires, including: Satellite navigation system (in both flat and birds-eye views), DVD’s, integrated phone system, Bluetooth connectivity, organizer, CD auto-changer, satellite radio, MP3 player connectivity, ‘regular radio’, multi-zone, multi-target a/c system with heated, ventilated, and messaging seats, internet (this is a bright idea…surfing the net while driving, or not driving as the case may be), and just about any other thing you can think of that you can do with a computer.
All the while controlled by a shiny silver knob that turns, clicks forward, back, and side to side and is not easy to grip. Oh, and did I mention that unlike even crappy programs, the GUI used in car systems is designed in such a way that it takes you a good 5 (or more!) minutes just to turn the CD player on?
Just shoot me now.
Jon.
04/28, 7:17 PM
posted by:
Madcapp
Yeaaah generation-Y. Lexus can draw on their Japenese heritage and offer special Pókemon or Dragonball-Z editions of their re-badged Toyota products specifically for that market. And then they can just put the car on their credit card….before they file for bankruptcy.
04/28, 8:32 PM
posted by:
gsh
im not sure what dragoball-z is, but if it includes missiles then hell yah! bring it!
04/28, 10:57 PM
posted by:
Dan
The good thing is, out of all the luxe automakers, only Lexus does not use the ridiculous and unnecessarily complicated knob. Instead the use a touchscreen–ah what a simple idea.
And, the Lexus system has a blockout when the car is moving, to prvent distraction. You can’t access many of the functions while the car is moving, unless you use voice command.
The buttons are simple and straightforward–it’s the easiest system to use on any car on any road today.