Is Scion Going Out Of Business

Is Scion Going Out Of Business

Is Scion Going Out Of Business – Scion was started in the year 2003 as a separate car brand geared towards younger purchasers. While its products were very closely related to Toyota vehicles they experienced a special, slightly large, style, built to be easily customizable. They were sold with few options and fairly basic stereo systems under the assumption that a majority of buyers would upgrade them. The cars were sold at Toyota (TM) motorcycle shops but in areas established off from the slumber of the showroom and, when buying a Scion, there was no haggling. Basically were sold at a set price because Toyota’s researching the market revealed that younger car customers wanted a simpler buying process.

“Scion achieved it is goals of developing unique products and processes, and getting new, younger customers to Toyota, ” Toyota Motor Co. said in a press release announcing the shut-down of the trademark. “With more than a , 000, 000 cars sold, 70% of Scions were purchased by customers new to Toyota and 50% were under 35 years old. inches The youth market has changed since 2003, though. When Scion started, it was intended to charm to Generation X purchasers who wanted to identify themselves using their elders. Millenial buyers, who are Scion’s target age today, are less enthusiastic about being discovered and would rather buy cars from known and trusted brands, said Michelle Krebs, an analyst with Autotrader.

“Millennials aspire to well-established, highly respected global brands like Toyota and luxury brands like Audi and BMW, Autotrader’s Millennial studies show, ” the girl said, “and Toyota’s sales numbers prove that with 28% of its sales to Millennials, ” your woman said. Besides the changing tastes of younger customers, Scion faced other headwinds, as well, said Jessica Caldwell, an industry expert with the automotive World wide web site Edmunds. com Scion showrooms had only small cars. Toyota had lately revealed a Scion SPORT UTILITY VEHICLE (SUV) concept vehicle but that vehicle will now be sold as a Toyota, the automaker said. “It’s hard being a tiny car brand when shoppers select for SUVs and vans, ” she said. “Last month 58% of ALL OF US sales were light vehicles.”

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