| |
Scion Reveals New Hako Concept, Hints at Additional Models
24 Mar 08
Toyota's youth division, Scion, has shown off its new subcompact coupe which it claims may herald an upcoming production model expansion for the brand from its current three vehicle line-up to as many as six. Scion vice president, Jack Hollis, in an interview with Bloomberg News at the 2008 New York International Auto Show said: “Should it be a youth truck, a youth SUV, an environmental car, a smaller car? We're studying right now to see which would be the greatest priority.'' He added: “There are more leading-edge people we can attract that may not be attracted yet to these first three products.” The Hako is one option for Scion, which is trying to continue to attract young buyers to the Toyota division through its edgy, unusual offerings. Although no mechanical specifics were laid out for the Hako, its styling was enough to polarize the gathered media; it is reminiscent of 1920's American offerings, albeit with 18-inch wheels and a panoramic sunroof.
Significance: Despite Scion's claim during their presentation that they do not measure their success with the brand in terms of sales the recent flops of the newly redesigned xB and xD are dragging the company’s sales down. The firm also claims to have the lowest median age buyer of any brand on the market, with the median buyer for a new Scion aged 30. Nevertheless, the numbers are misleading; the tC coupe does have a median age of 24 years old, but the xB and xD reveal average buyers from 37-39 years old. With sales year-on-year of Scions currently dropping, and the new models not sparking much interest, the company will need to act quickly to stay relevant to the 10% of the youth market which they have identified as the true movers and shakers, early adopters, and opinion leaders. The problem with such a demographic is that they are notoriously fickle; Scion must determine if its sales slide is one driven by market forces, or more ominously, if Scion is losing its cool among its target market.
|
|
|
