MONTVALE, NJ — While market share for U.S. automakers nears an all-time low, falling below 60 percent, the same companies are gaining ground in the high-end market. According to the second annual report on the best new vehicles for CEOs — sponsored by Chief Executive magazine and Edmunds.com, an online resource for automotive information — domestic vehicles fare better than their Asian competitors, while European automakers continue to dominate this part of the market.
“There’s still a perception in some quarters that automobile luxury is dependent on imports, but the reality is changing,” said Chief Executive magazine Editor in Chief William Holstein, who oversaw the compilation of this year’s list for the October issue. “Today’s executives are taking notice of — and taking out their wallets for — new domestic offerings such as the Cadillac STS, the Chrysler 300C and the Ford GT.”
Last year’s list focused on high-end exotics like the Rolls Royce Phantom and Maybach 62. However, mindful of corporate sensitivity, CEOs may be inclined to project in the current business climate, Chief Executivemagazine and Edmunds.com this time recommended certain cars for work and others for play. In the latter category price was no object, while CEO commuter cars were selected within specific price points, maxing out at $75,000.
The 2005 Top 10 Cars for CEOs are:
Work Cars Under $75,000: Audi A8 L
Under $60,000: Cadillac STS
Under $50,000: Chrysler 300C
Play Cars Sedans: Jaguar XJ8 LWB, Maserati Quattroporte
Sports Cars: Ford GT, Porsche 911 Carrera S
Convertibles: Mercedes SL 600, BMW 645 Ci
Coupe: Bentley Continental GT
“Each of the selected vehicles is comfortable and fun to drive,” said Edmunds.com Editor in Chief Karl Brauer, who helped compile the list. “And there’s no question that each of them projects an image worthy of a CEO.”
_______________________________________
Click here to view the rest of today’s headlines.
