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Avoiding the Buick and Oldsmobile CurseToyota: Time for Botox?
Filed under: Miscellaneous, Toyota
In the late 1970s and early 1980s, the Oldsmobile Cutlass was the best selling car in America. But by the start of a new millennium, the Oldsmobile Cutlass had that image of being "old and stuffy". General Motors tried to save its decline when, in the 1980s, it boldly announced in its advertising, "This is not your father's Oldsmobile." It didn't work and the model was phased out in 2004. The brand itself had closed its factory doors earlier.
Is the Camry traveling down that same road? Senior auto analyst John Wolkonowicz noted that the average buyer of a Toyota Camry is in their fifties. That's not a good sign in youth-oriented America. Worse, Generation X and Y -- those born after 1965 -- want BMWs, not Camrys, associating the latter with, well, "old folks". Toyota understands the problem when it created its Scion brand. And the Camry's sportier appearance and more aggressive design is also aimed to attract the younger set. (Pictured is the new Yaris compact 3-door.) It may be working. Toyota says that the base age of buyers of the Camry CE has declined from 55 years old to 48 years old from 2005 to 2006. Our take? The lesson learned here? It's okay to connect with a generation. Riding the wave can be very profitable. But, ultimately, there comes a time to move on and catch the next wave and connect with the next generation. Keeping up with the demographics will avoid being the next Oldsmobile Cutlass.
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