What's important is that it excel in at least one important area. Whether a car excels in performance, styling, refinement, or simple value doesn't matter. Honda and BMW rank first and third among the all-time 10Best winners, and Porsche would be right there if our price cap didn't perennially eliminate the 911 from consideration. Interestingly enough, the cars that customers seem to like are exactly the cars that make it onto our 10Best list. The key is building products that customers desire.
And Honda is proving that you can even make good money moving mass quantities of cars. At the high end of the market, Porsche and BMW are making excellent profit margins. There are a few exceptions to this profitless prosperity. If this keeps up, the car industry will soon go the way of the airline business, where the carriers lose money on each passenger and never manage to make it up on volume. Consequently, despite the torrid sales, profits in the industry are scarcer than democrats at a Katherine Harris fundraiser. Of course, these incentives cost serious bucks.
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This miraculous act of sales levitation is being supported by bribing buyers with ever-increasing rebates, low-interest loans, sweetheart lease deals, and free dates with Miss America contestants and Chippendales dancers - okay, that last part hasn't happened quite yet. As of this writing, vehicle sales are heading for the second highest annual total in history, despite threats of terrorism and war, a general economic malaise, and not even a whiff of pent-up demand, thanks to sales of more than 97 million vehicles in the previous six years. As we head into our third decade of selecting the 10Best cars sold in the U.S., the industry finds itself in a peculiar state.
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