2015 Lexus NX Crossover Markets to Urban Millennials
Provocative, edgy performance vehicle seeks young, urban millennial.
If there were such an ad, this would probably describe the all-new 2015 Lexus NX Crossover. The emphasis from the start has been to attract the burgeoning up-and-coming urbanite.
Lexus has sought to swoon this segment of the auto market from the onset of vehicle development and its wish list for the prospective newbie buyer looks something like this: male or female; never owned a luxury vehicle; new to the brand; 30-40 years of age with an active lifestyle.
So how does this demographic of a younger generation fit the profile of Lexus’ target customer and how did the automaker decide on this margin of the populous?
Just like it’s difficult to pinpoint an exact range of dates that determine when the generation of Millennials begins and ends, this hugely sought after group is highly technologically minded (the result of being born in the midst of the internet revolution) and is often believed to have great expectations when it comes to their professional lives.
80 million strong, Generation Y-ers are a foundation of a movement. They are ready to look any economic challenges squarely in the eye, though when honestly asked about their level of engagement in global sustainability efforts, you might be surprised how many others things compete for their time.
The Millennial knows first-hand what it means to pinch pennies and having grown up in the age of the Great Recession, their lifestyles understandably reflect their economically modest sensibilities.
Lexus has done their homework. It projected that the new 2015 NX would attract 50 percent more buyers…while the Japanese car maker, by some estimates, would need to sell somewhere close to 3,000 crossovers a month to this demographic alone.
When polling young, urban buyers about what they are looking for in a vehicle, style and design are at the top of the list.
Lexus also believes many Millennials would opt for the budget-friendly hybrid version of its latest CUV – the NX 300h – a turbo-charged first for the brand. The hybrid NX’s 2.5-liter gas engine which runs on the fuel-saving Atkinson’s cycle is married to a continuously variable transmission that will likely get close to 35 city miles. Not a bad deal considering you’re essentially saving gas, while still managing to turn heads as you pass by.
Though the performance-laden F Sport makes a pretty compelling case as to why it should be the vehicle of choice, with a tighter suspension and more spirited design, the F Sport was constructed to go up against the likes of the BMW’s X3 and the Range Rover Evoque.
Lexus’ new crossover promises to be priced somewhere close to $40,000, keeping it competitive with the European luxury brands.
At Lexus of Highland Park, we think that budget savvy Millennials would agree that this is one of the vehicle’s best features. Whether or not Lexus finds a suitable percentage of America’s 80 million Millennials still remains to be seen.