Cars.com and CareerBuilder.com Survey Provides Insights on What CEOs and Workers in Certain Industries Have Parked in the Garag
July 25 2006 - 11:27AM
PR Newswire (US)
CHICAGO, July 25 /PRNewswire/ -- Do you know what kind of car your
boss drives and how much it cost? Is your car type or color on par
with others in your profession? According to a survey commissioned
by CareerBuilder.com and Cars.com, perceptions are very different
from reality. Not surprisingly, a majority (59%) of survey
respondents think a typical CEO drives a luxury vehicle. The car
most commonly associated with a company's CEO is a black
Mercedes-Benz. The CEO sample includes those with the CEO,
Chairman, Executive Director, President or COO titles. The truth is
more CEOs surveyed drive ordinary passenger cars and SUVs than
luxury cars; in fact, those who drive Chevys outnumber those in
Mercedes. And while most respondents think CEOs spend more than
$70,000 on their cars, the average price CEOs in this study paid
for their primary vehicle is under $25,000. One-in-four (26%) CEOs
surveyed reported they spent less than $20,000 on their primary
vehicle. The following is a breakdown of the types of vehicles CEOs
in the survey report they own: -- 29% - passengers cars -- 24% -
SUVs -- 19% - luxury cars -- 13% - pickup trucks -- 9% - vans and
minivans -- 6% - sports cars "When it comes to the perception of
what CEOs drive, the respondents surveyed who believe a black
Mercedes-Benz is the car of choice for CEOs aren't the only ones,"
said Patrick Olsen, Managing Editor of Cars.com. "A similar
majority of CEOs who responded to the survey thought their peers
were mostly driving expensive luxury cars as well." Looking at
specific industries, the survey found that respondents working in
banking and finance are more likely than workers in any other
career segment to drive luxury and sports cars, followed by
engineers. Healthcare professionals who completed the survey say
they are most likely to drive SUVs and construction workers
surveyed say they are most likely to drive pickup trucks. According
to those surveyed, the most popular vehicle colors among select
industries include: -- Government - red, white and blue -- Banking
and Finance - silver, black, red and green -- General Business -
black, red and blue -- Education - red, blue, white and silver --
Healthcare - silver, white and blue -- Retail - silver, black and
blue -- Manufacturing - blue, green and red -- Food Services -
silver, white and green -- Construction - white, blue and silver
Although reliability, price and value for the money are the top
factors for both CEO and general population respondents, related to
the car-buying process, the CEOs in this study say they are more
likely than the other respondents to be influenced by exterior
styling, interior roominess and engine performance, while the
general respondents are more likely to be concerned with price,
value for the money and fuel economy. Surprisingly, a vehicle's
perceived status plays an insignificant role in the decision-making
process for both the CEO and the general public respondents.
"Fundamentally, what a CEO of a company drives isn't extremely
different from what the general public drives," said Rosemary
Haefner, Vice President of Human Resources at CareerBuilder.com.
"The reality is that while there are differences between what
drives a CEO to purchase a particular vehicle and what motivates
the general public, the car parked in a CEO's driveway isn't as
extravagant as most people believe." Methodology Harris
Interactive(R) conducted the online study between June 21 and June
23, 2006 among a nationwide sample of 2,344 U.S. adults (aged 21 to
65) who have a valid driver's license and are employed or looking
for work. Of the 2,344 qualified respondents who completed the
survey, 340 respondents qualified as a CEO, Chairman, Executive
Director, President or COO of the company in which they are
employed. The other 2,004 respondents are categorized as the
general public segment. No weighting was applied to this data and
therefore the results cannot be projected to the U.S. adult or CEO
populations. With pure probability samples, with 100 percent
response rates, it is possible to calculate the probability that
the sampling error (but not other sources of error) is not greater
than some number. With a pure probability sample of 340 adults one
could say with a ninety-five percent probability that the overall
results have a sampling error of +/- 5 percentage points, and +/- 2
with 2,004 adults. However that does not take other sources of
error into account such as measurement error due to question
wording and/or question order, deliberately or unintentionally
inaccurate responses, nonresponse (including refusals), interviewer
effects (when live interviewers are used) and weighting. This
online survey is not based on a probability sample and therefore no
theoretical sampling error can be calculated. About
CareerBuilder.com CareerBuilder.com is the nation's largest online
job site with more than 23 million unique visitors and over 1.5
million jobs. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune
Company (NYSE:TRB), and The McClatchy Company (NYSE:MNI), the
company offers a vast online and print network to help job seekers
connect with employers. CareerBuilder.com powers the career centers
for more than 900 partners that reach national, local, industry and
niche audiences. These include more than 170 newspapers and leading
portals such as America Online and MSN. More than 250,000 employers
take advantage of CareerBuilder.com's easy job postings, 18
million-plus resumes, Diversity Channel and more. Millions of job
seekers visit the site every month to search for opportunities by
industry, location, company and job type, sign up for automatic
email job alerts, and get advice on job hunting and career
management. For more information about CareerBuilder.com products
and services, visit http://www.careerbuilder.com/ . About Cars.com
Partnered with more than 200 leading metro newspapers, television
stations and their websites, Cars.com is the most comprehensive
destination for those looking to buy or sell a new or used car. The
site lists more than 1.8 million vehicles from 12,000 dealer
customers, classified advertisers and private parties to offer
consumers the best selection of new and used cars online, as well
as the content, tools and advice to support their shopping
experience. Recently selected by Forbes.com as a Best of the Web
site for car shopping, Cars.com combines powerful inventory search
tools and new-car configuration with pricing information, photo
galleries, buying guides, side-by-side comparison tools, original
editorial content and reviews to help millions of car shoppers
connect with sellers each month. Launched in June 1998, Cars.com is
a division of Classified Ventures, LLC,
(http://classifiedventures.com/), which is owned by leading media
companies, including Belo (NYSE:BLC), Gannett Co., Inc. (NYSE:GCI),
The McClatchy Company (NYSE:MNI), Tribune Company (NYSE:TRB) and
The Washington Post Company (NYSE:WPO). DATASOURCE:
CareerBuilder.com, Cars.com CONTACT: Steve Nolan, Public Relations
Manager of Cars.com, +1-312-601-5163 (direct), +1-630-310-2468
(mobile), ; or, Jennifer Sullivan of CareerBuilder.com,
+1-773-527-1164 (direct), Web site: http://www.cars.com/
http://www.careerbuilder.com/
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