Think captains of industry are all driving top-of-the-line luxury sedans like the Mercedes S-Class or Jaguar XJ8? Think again. Business Week theorizes that most CEOs just want a simple set of wheels that will reliably get them to and from the corner office and to their next appointment with a minimum of fuss.
According to a pole conducted jointly by Cars.com and CareerBuilder.com, the average CEO spends less than $25,000 on a car, while only 19% of those poled drive luxury cars. The largest portion is driving run-of-the-mill passenger cars (29%), followed closely by SUVs (24%). Some, like the heads of construction companies, prefer the utility of a pick-up truck (13%) or vans (9%), while a small percentage opt for sports cars (6%). (The size of the companies whose CEOs were surveyed was not specified.)
[Source: Business Week via StraightLine]