Scion v. Oldsmobile
I have worked with Toyota and Lexus for over 20 years.
Undoubtedly, I’m biased. My wife and I both drive a Lexus. Plus, I’ve been part of numerous Toyota and Lexus product launches, branding and sales plays.
Over the years, I’ve thought deeply about what separates Toyota from its competitors.
Building cars that are relentlessly reliable and offer exceptional value explains much of Toyota’s success. But you can only do that consistently if you have a culture or mindset, that welcomes customer feedback - especially when it’s a negative.
No other company I have ever worked for embraces and faces problems or challenges like Toyota.
When Toyota discovered the average age of a Toyota buyer is about forty-five, compared with about thirty-seven for Honda and thirty-two for Mitsubishi, they set about building a brand that would win the hearts of the next generation of consumers by launching a new brand called Scion in the U.S.A.
The median age for Scion buyers is thirty-five. More importantly, 76% of Scion buyers have never bought a Toyota before.
Compare this to GM who spent years trying to rescusitate Oldsmobile with slogans such as “This is not your father’s automobile” and “A New Generation of Olds.” The campaigns didn’t work. So in 2000, GM killed off Oldsmobile.
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