Worldwide Success

Do you think a car reflects its owner’s personality?  According to Golden Gate University’s psychology chair Kit Yarrow, a car represents an individual’s personality better than any other product.  It is easy to see the connection.  Most people would agree that a car many times says something about the driver … Jeep Wrangler – renegade; Toyota Prius – environmentally conscious; Minivan – soccer mom.  But does a car say anything about a person’s level of success? 

You might assume that financial success is represented by new expensive luxury cars.  But that is not necessarily true.  Wal-Mart founder Sam Walton drove a pickup truck.  Warren Buffett, one of the richest man on earth drove a 2001 Lincoln Towncar with the words THRIFTY on the license plate.  Thomas Stanley, the author of The Millionaire Next Door described how the average millionaire prefers to drive non-luxury cars that are a few years old.  The connection between car and owner goes much beyond money.

One interesting survey conducted by TheLadders.com, a job search site for $100K plus positions, asked CEOs what cars they drive.  CEOs represent several of the common characteristics that many people associate with success: performance, achievement, leadership, influence, business acumen, etc.  So the question that begs to be asked is: can we draw the conclusion that the CEOs preferred car is a symbol of success?  Is there such a thing as the successful person’s car?

According to this survey, the CEOs preferred car is…drum roll…BMW.  BMW cars are known for their performance and are considered leaders in many categories.  Is there an obvious connection here?  One could argue that the connection is purely one of money, but we already debunked that theory.

Although BMWs are considered luxury cars, they come in a variety of categories and prices.  One can drive a BMW for not much more than a Honda Accord, and if you account for their resale value, some BMWs may turn out to be a better deal than the average car in the long run.  Is the ultimate driving machine the ultimate symbol of success?

Yarrow argues that for most people a car represents their values, or those they try to portray.  She explains that it is not just the make.  The color is also important.  Red cars are preferred by people that like to be noticed.  Black represents luxury.  In TheLadder’s survey, 76% of respondents agreed that their car says something about them. 

“Practical, reliable, fast, exciting, agile, elegant, sporty.  There is not product that’s more of an extension of your mind and body than a car”

Many CEOs surveyed also indicated that they drive a hybrid.  Driving a hybrid car delivers a message that you care about the environment and that you are concerned about the community at large.  It may also be just the politically correct thing to do.  Among other things, hybrid cars are becoming a status symbol among affluent consumers.

Other cars that scored high with CEOs include Mercedes, Lexus, Toyota and Ford.  There are also CEOs who drive very expensive cars, even though they seem to be a minority.  These very expensive cars tend to be fast sports cars that command price tags in the six figures range.  Some CEOs justify this type of spending as a positive reflection of the company they run and even argue that it is a way to motivate their employees.  Larry Gaynor, CEO of Nailco Group who drives a $100,000 Porsche 911 Carrera S Cabriolet puts it this way:

“My employees like to see me drive a nice car.  It gives them a feeling the company is doing well.”

Dean Cubley, CEO of ERF Wireless who drives a Mercedes 500SL has similar thoughts:

“A nice car reflects on the success of a public company.  I am proud of my car and like to show it off.”

It is been said many times before on this site that success means different things to different people.  Whether a car can represent your level of success is arguable.  But I think most people would agree with Kit Yarrow that there is an undeniable connection between a car and its driver.  Maybe the marketers of car manufacturers just do a better job of establishing that connection than most other products manufacturers.

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