Wealthy Americans say Porsche tops the luxury segment
The Luxury Institute, a research organization whose focus is directed solely upon the top 10% of America's wealthy, has declared that Porsche is the country's top luxury brand. Its 2007 online poll surveyed no fewer than 1,600 affluent folks, each of whom, on average, earns at least $313,000 USD annually and whose net worth is $3.3 million.
Porsche came out ahead of industry heavyweights like BMW, Mercedes, Audi, Lexus, Jaguar and several other traditionally upscale marques. Those surveyed cited characteristics such as Porsche's power, style, elegance and value when making their selections. We have no problem with the poll, as Porsche certainly makes some killer machinery. We just wish that we were, you know, in a position to be among those invited to participate in the survey...
[Source: Luxury Institute/PCNA]
PRESS RELEASE:
Porsche Named Top Prestigious Luxury Automobile Brand for 2007 by Luxury Institute for Third Consecutive Year
ATLANTA (April 12, 2007) – For the third year running, America's most affluent consumers have declared Porsche the top luxury car available today. The Luxury Institute's 2007 independent, nationwide survey of luxury auto brands rated Porsche against 13 of the world's most prestigious car brands, including Acura, Audi, BMW, Infiniti, Jaguar, Land Rover, Lexus, Mercedes and Volvo.
Porsche netted the number one spot based on its consistently superior quality, exclusivity and uniqueness, measure of enhanced social status and its ability to make the client "feel special" throughout the entire ownership experience. It was also measured on value, respondents' willingness to recommend and next purchase preference.
"Customer perception is everything in the luxury car market. This distinction helps us know that we are successfully delivering on our brand values in a very competitive automobile market," said Peter Schwarzenbauer, Porsche Cars North America president and CEO.
The Luxury Institute conducted an online survey of more than 1,600 American consumers – with an average income of $313,000 and average net worth of $3.3 million. Survey respondents strongly associated Porsche with "power, style and excitement" as well as "value," "elegance," and "trust and respect." The proprietary 2007 Luxury Brand Status Index survey is the only measure of the reputation of leading brands among wealthy Americans.
"Wealthy consumers tell us that Porsche stays true to its core values and to its enthusiasts," said Milton Pedraza, CEO of the Luxury Institute. "Porsche remains an automobile that never loses its way on the luxury highway, even at high speeds."
The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.luxuryboard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.luxuryinstitute.com.
Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche sports cars and Cayenne sport utility vehicles for the United States and Canada. A wholly owned, indirect subsidiary of Dr. Ing. h.c. F. Porsche AG, PCNA employs approximately 300 people who provide Porsche vehicles, parts, service, marketing and training for its 213 U.S. and Canadian dealers. They, in turn, provide Porsche owners with best-in-class service.
Reader Comments (Page 1 of 1)
JC3 6:22PM (4/18/2007)
That should douse scepticism about the market for a 4 door Porsche.
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HotRodzNKustoms 7:16PM (4/18/2007)
I have no doubts the Porsche sedan will be a absolute hit. It will sell as well as the SUV. And for those who say the Cayman should be top dog probably are not new Porsche buyers. New Porsche buyers have it etched into their minds that the 911 is a sign of success, wealth, and taste. It is what it is.
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dskinner 7:50PM (4/18/2007)
Almost nothing screams wealth more than a new Porsche. With an expanding lineup, Porshe has offerings for pretty much everyone that makes a good amount of money. From the wealthy soccer mom to the affluent bachelor, Porsche has got you covered!
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Puffy C 8:13AM (4/19/2007)
I guess when you're that wealthy, reliability isn't a concern.
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Josiah 9:02AM (4/19/2007)
This shows that the new Panamera will take Porsche beyond the profitable Cayenne days and deal a serious blow to Mercedes and BMW's market share in the high end sedan market.
I've always looked up to the Porsche brand even when comparing more expensive and exotic vehicles from Ferrari and Lamborghini, which means that Porsche will (and already has) cleaned up in the market just *below* them.
Imagine a Porsche BMW M3/Audi RS4 competitor....mmmmm tasty.
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mxrz 12:05PM (4/19/2007)
#4, Porsche is no less reliable than Mercedes for example, and certainly more reliable than Jaguar, Aston Martin, or anything made in America.
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The Anti-Paul 12:48PM (4/19/2007)
Actually if you look at the numbers you'll see that almost anything made by a domestic is more reliable, both long term and short, than Porsche in particular and anything European in general. In fact I've always wondered why it is we accept such piss poor quality from expensive cars like MB, Audi, Land Rover, etc but then cry like little girls if our $12000 Corolla doesn't go 200,000 miles without a trip to the service center.
People seem to be brain locked into thinking that expensive=good but when it comes to reliable, dependable transportation the opposite is more likely to be true.
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jhruth 3:11PM (4/19/2007)
ACTUALLY #7 you could not be more WRONG.
I own a 2005 911 C2s and it's awesome... AND
http://www.autoweek.com/apps/pbcs.dll/article?AID=/20060608/FREE/60607007/1041
Porsche, Hyundai score big gains in J.D. Power quality survey
By MARK RECHTIN | AUTOMOTIVE NEWS
AutoWeek | Updated: 06/07/06, 5:06 pm et
LOS ANGELES -- Porsche leapt to the top of the J.D. Power Initial Quality Study, while perennial top finisher Lexus was a close second.
The top domestic brand was Cadillac, in the seventh spot.
Among the top-three finishers in 11 car segments, 22 were from Asian brands, seven were European and five were from domestic brands.
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wushu 10:33PM (4/19/2007)
Porsche AG treats their customers like suckers, gouging them with a higher price for the Boxster Coupe (aka Cayman) than for the convertible version, putting in an inferior 3.4L engine instead of saving development costs and sharing parts with their existing 3.6 or 3.8L engines, and deliberating not offering the LSD that their own test driver, famed driving champion Walter Rohrl, says the Cayman really needs. All this equates to more money for less car. Porsche AG is so arrogant with their recent success gouging their loyal customers, they've forgetten how close they were to the brink of bankruptcy before the famed Toyota Production System saved their ass. I can't wait for the Japanese or the Koreans to take Porsche down a notch or two.
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buster01 12:41AM (4/20/2007)
um...actually #8, Number seven is very much correct. Most German cars are on the bottom of the reliability list contrary to popular belief. I am around wealthy people and can't believe the stories I hear about what goes wrong with their expensive German cars. All I can say to #8 is don't let your car's warranty expire. You might be very sorry.
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buster01 12:41AM (4/20/2007)
and also #8, initial guality has nothing to do with longterm reliability.
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alexhho 9:32AM (4/24/2007)
#8. Do you work for Porsche? JD Powers did release feedbacks for the INITIAL survey that claimed Porsche is #1 in 2006. But then in 2007, the FINAL review by JD POWERS has Porsche at number 38 (or somewhere there) out of 50 manufacturers. MB is also at the bottom. So much so that Consumer Report did not recommend a single MB model in their 2007 Buyers Guide.
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