“How The Auto Industry Shake-Up Affects You”
In an article that appeared June 2, 2009 on Forbes.com, Booz & Company Principal Steven Treppo (North America) said that sellers of high-end, “luxury” cars can best navigate economic challenge by sticking to the ideals that make them upscale in the first place: customization, exclusivity, uniqueness, craftsmanship and heritage. As such, Treppo said that luxury auto retailers should reinforce their strengths by resisting the urge to slash prices. “That is the last thing we want to do in a recessionary time,” he said. “It is going to be a slippery slope if you start training the customer to look for lower prices.”