News by Brand
Home>Topics>>Rechtin checks pulse of ultra-luxury market

Rechtin checks pulse of ultra-luxury market

Get Adobe Flash Player to see this content.


  1. Bentley1:49
  2. Middle East1:47
  3. United States0:50, 1:02, 2:39
  4. Pacific region1:40
  5. Automotive News3:18
  6. increasing demand1:00
  7. supply balance2:25
  8. auto makers0:41
  9. device segment3:03
  10. massive demand0:58

Mon, 10 Sep 2012|

Each August, the car-loving elite visit Monterey, Calif., for the Concours d'Elegance weekend. This year's event allowed West Coast Editor Mark Rechtin to take the pulse of the ultra-luxury market from the 18th fairway at Pebble Beach.


Automatically Generated Transcript (may not be 100% accurate)

As the world's 1% and those aspiring to join them gathered at this year's Pebble Beach -- weekend. Tina cars was a celebrated as much as the lovingly restored additions. After all it's rare scene is so critical on the street let alone three quail gathering on site. It's a weekend where the celebrities aren't nearly as celebrated as the rare automotive icons that recover. But Pebble Beach has also evolved into a marketing opportunity for carmakers eager to reach the world's elite crucial as Europe's economy swirling turbulent fiscal waters. Auto executives seemed to have a mantra for survival. Balance balance. Very balanced and China China China but really how bad is it all expressing concern luxury auto makers seem confident of being able to ride out the storm. -- -- happy is an immense pressure we could just see that Obama cannot but -- billions of the German -- the United States where they're really trying to ratchet up the cells from it. From that aspect -- you know we have got a massive market of China as a massive demand for products in China. I'm for increasing demand for products in the United States where there were drive the displacement engines. The whole member of a profit. At Lambert meeting last year's orders for the event or are keeping the assembly lines running right now. But as for future orders that's another story. Sort of European market for us is it important as a key market as an -- life and showed no. We have always liked it which is not working and all of you to visit our for Chrysler that taxation and the fiscal polices -- controls. But on the other hand we have markets which are working better than expected to -- -- the situation. Is better than 2011 -- They US is going back. Asia Pacific region is pretty much on the same level as last yet. And I really have the Middle East which is really strong. Bentley which struggled through 2008 US crisis appears now to be rebounding -- with his -- on the open in New York. She's going to be three new yet to sign and symptom of economy and -- -- And there's some themselves memos and put on China in fact include live it was a markets yourselves if you continues the other places in your. But this -- also by the end of drew I hit a citizen and he's made twenty successful songs Porsche executives say they have learned their lesson from the last fiscal crunch and are handling global inventories accordingly. He meant and and and supply balance is very important proportion -- -- -- at the moment because of China. Because of so strong markets in Asia and Russia. And the continuing growing of further volume in the position of course in the United States to come to balance the situation -- -- -- in -- and then in New York. Aston Martin which once had too many cars for too few dealers is -- dealers at a furious pace including nine war in China this year. We are in fact then expanding around the world and of course is -- that we have not balance not flexibility in terms of growing -- the business. By mobile device segment I'm like country. Traffic around -- peninsula was little lighter this year than last perhaps indicating a certain reduction in attendance. However as of Saturday night auction prices and already exceeded last year's total clearly the 1% isn't worried. For -- beach for Automotive News TV I'm mark wrecked him.

Related Videos:

  1. Palmer on Nissan Products

    Wed, 22 Jan 2014

    Nissan Motor Co. Chief Planning Officer Andy Palmer says the brand is being transformed through design, performance and innovation.

  2. Volvo CEO on U.S. 'Comeback'

    Fri, 8 Nov 2013

    It's good to see you again Tom back. Our talk from the top video series continues. This month were focusing on global CEOs. And will begin with a man who is still relatively new to the top spot. In October of 2012. Samuelson was named chief executive of Volvo car group. Samuelson spent two years on Volvo's board before taking the His last job with CEO of German truck maker MA yen but now he's leading a Chinese owned Swedish auto maker. If he's facing a serious issue. The US has long been volvos largest market. But demand for mobile products in the region has been dropping for most of the past decade. So Samuelson is outlining a revival strategy in the states. It calls for re connecting with frustrated dealers. And getting back on the radar screens of buyers by adding more emotion into the life. Quite tend to vote goes to be attractive because I think at the end that's very very important because Melissa has to be better in I want to have the caller. I mean you have to be proud of their car you want to park it outside the girl or smoke inside the garage. But Volvo is having a hard time just getting its vehicles in the driveway. The automaker's US sales peaked in 2004. At more than 139000. Units. In 20122. Years after Volvo was sold by Ford to China's geely US sales stood at just 68000. Volvo is on track to sell about 60000. Units in the US in 2013. The brand is being squeezed by an aging lineup in fierce competition in the luxury segment. Samuelson says righting the ship. Begins with product. We have to do came to more. Addition of callers. Think first step with the you know in November December we wouldn't warns that the sixtieth. There are also refresh 2014 models of the S sixty and S eighty sedans. And that exceeds sixty and XC seventy crossovers. The lead up to the launch of the redesigned XC nine BS UV late next year. The centerpiece. Of an eleven billion dollar five year investment in new products and factories. most of sort of like Colin. And we of course want to come back in that segments a big suvs segment. There's seven C tours to better compete in the luxury market. Volvo is also loosening its stance on leasing. If you like eternal for the market is at least Volvo's current lease penetration stands at about 35%. Up from about 10% during the recession in three years ago. The targeted 2014. More than 40%. Which means you have to be more care for the vote received your values. Really controlling those looking into attractive specs on the cards Samuelson says the next will carry higher price tags he also sees no future in mass market products. We are others manufacture half million callers may do we have a target coming up to 800 We will never be able to compete with that no Colson and I vote him chorus so we have to be premium. That and we define premium message an attractive it caller that is priced higher than than the mask or. And as the clear case of course whole week we. Give value to this typewriters we've we've delivered to the customer. That 800000. Unit gold nearly double today's volume of around 450000. Vehicles. He says look for an emphasis on Scandinavian. Expertise. In technology. Safety and design. I think will. Has severity of strong brand and and we have to really be careful of preserving that. Think we should entry into Friday as some adventures and reinventing the brand. Think we'll should be what we'll we'll stands for. It is the caller that cares votes you. His safety incident by to performance Samuelson is also looking to send a message to shoppers. Pulled race. He's backed the auto maker is in the final stage of selecting a new global ad agency. So we really more debts and invest. Next year there's twice the among media. Compared with the 2013. To review show that will voice its. Back on the US market but Samuelson says there is one very significant hurdle to clear. In what he calls Mobil's combat. Beginning this is trust and and commitment from the dealers. In recent years the 308 story US dealer body has pressed for new product ad blitzes and more. Samuelson is asking for continued patience. We are in the midst of the biggest transformation program and there with the invulnerable and we've be live offer them you. The possibility to win you products to be profitability in the future because that's horrible leaving the local charge is Tony OC. The company's finance our chief was named interim CEO of although North America in October. Samuelson says the job is now permanent. We need an editor restart we needed to come back and told there was then. This man for that has the right it is and there is snow men search going on for a replacement told him. He's going to do with his children and yes of food to support and confidence from us. In terms of future US sales Volvo expects to eventually return to the 140000. Unit mark. Along the way China is projected to surpass the US as largest market. But Samuelson insists the ball is staying in the state. It's we are really commit to to stay in the US market and I think him. I'm very deceptive lead into The devotes speculation about a is going to to leave the market that's definitely not true. In regard to some reports about Volvo executives clashing with owner geely over the brands direction. Sarah Wilson says there has been no turbulence. And that Volvo's image has not been jeopardized in any way. That is our time for now we'll see you soon.

  3. Hyundai Store Creates a Culture From Scratch in Oldest U.S. City

    Fri, 21 Jun 2013

    When Andrew DiFeo opened a Hyundai store in St. Augustine, Fla., in 2008, he saw a chance to create a culture. Earlier experiences at Toyota Motor Sales and his New Jersey-rooted family dealership group helped forge three founding principles.

  4. GM's CFO on Caddy's Growth Strategy

    Fri, 31 May 2013

    One of the biggest opportunities we have as a company is to take advantage of the scale that we have. we have a 150 billion dollars of the business in one business all around the world. That's something that General Motors is not historically taken for Vonage officer. We have opportunities as it relates to how we work supply base how reconstruct our global portfolio. Our architecture strategy all the way through to the back office. And running the company more efficiently processor. Big opportunity to be much more efficient and much more successful in the marketplace successful with the customer. of scale we have around the world. Number one is producing winning vehicles great design and performance of demonstrated time and again. That we are how to do that everything from the Cadillac entries that were brought to market and are bringing to market. This year around the world to be mocha and Adam and in Europe. You know around the world in your portfolio and South America we know how to do winning cars great design great performance. Sickened is offering those vehicles on a compelling value proposition to the customer. Sort of great deluge the right price the right cost structure but it enables us to win with a customer in the market. And finally from a quality point of view we continue to make great progress on quality we have a much more integrated perspective on quality and customer experience across the company. Are made tremendous strides on that sort of would come a long way but restore a lot of opportunities ahead of us. critically important part of the GM story. We've been investing significantly for point of view in the catalog quote folders in evidence of that. In the marketplace with the launches of the eighteen years two years and you see tears coming in them the whole portfolio of our cross cars crossovers and and the truck portfolio. So Cadillac incredibly important posts here in the US. North America around the world it's going to be important part of a growth equation for us something that we're putting a lot of resources and to. We're not off to him it'll cost Wear off to building the brand. We have a lot of opportunity to grow the business a in point of view. But it's not a purely driven strategy we're gonna grow the business and portal and profitable way. We play you are close attention total of our competitors are doing. We make sure we understand what's going on their businesses. Number we have our plans now strategies and we're executing to those while taking into a topic from competitive dynamics in the marketplace.