Executive Magazine and Edmunds.com Name Top Ten Cars for CEOs
MONTVALE, NJ - While market share for U.S. automakers nears an all-time low, falling below 60%, 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, the leading source of intelligence for and about CEOs, and Edmunds.com, the premier 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 J. Holstein, who oversaw the compilation of this year's list for the October issue. "Today' 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 Executive Magazine 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:
Under $75,000: Audi A8 L
Under $60,000: Cadillac STS
Under $50,000: Chrysler 300C
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."
Chief Executive Magazine, now in its 26th year, is designed for corporate leaders to find the tools and information they need to direct complex, global organizations. The magazine features the latest information on leadership concerns, fresh ideas, and strategies, while also covering the human side of being a CEO. Recent issues have provided in-depth analysis on topics ranging from CEO compensation and diversity in the executive suite to outsourcing and globalization.
About Edmunds.com, Inc.
Edmunds.com is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds.com True Market Value pricing, is generated by Edmunds.com Information Solutions and is licensed to third parties. For example, the company supplies over 800,000 pages of content for the auto sections of AOL and NYTimes.com, provides weekly data to Automotive News and delivers monthly data reports to Wall Street analysts. Edmunds.com was named "best car research" site by Forbes ASAP, has been selected by consumers as the "most useful Web site" according to every J.D. Power and Associates New Autoshopper.com StudySM and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, Calif. and maintains a satellite office outside Detroit.
About Chief Executive
Chief Executive is a controlled circulation magazine that reaches 42,000 chief executive officers and their peers. It is published 10 times a year and reaches a total readership of 143,000. Chief Executive also organizes roundtable meetings and conferences to foster opportunities for top corporate officers to discuss key subjects and share their experiences within a community of peers. Visit www.chiefexecutive.net for more information.