Masters in Business Hannah Elliott on Automotive Industry Trends
Jul 29, 2022
Hannah Elliott, a Bloomberg Businessweek staff writer with a passion for luxury, electric, and performance vehicles, engages in a thrilling discussion about the automotive industry's latest trends. She explores the emotional connection enthusiasts have with classic cars while dissecting the evolution of electric vehicles and shifting consumer preferences. Hannah shares insights on the joys of driving supercars, the cultural contrasts between car scenes in New York and California, and the challenges of maintaining a growing car collection in today's market.
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Unexpected Start
- Hannah Elliott's automotive career began unexpectedly when she answered a Craigslist ad at Forbes.
- Despite a non-car background, she learned on the job, reviewing cars like the Lamborghini Aventador.
Automotive Market Trends
- Electric vehicle (EV) adoption, despite media hype, remains low, around 5% of total cars on the road.
- SUV prices continue to climb, with luxury models exceeding $200,000, offering high profit margins for automakers.
SUV Impact
- Luxury sports car brands, initially hesitant about SUVs, now embrace them for increased profits.
- The philosophical angst about diluting brand DNA with SUVs proved unfounded, as sales remain strong.