American Express Black Card holders drive Hyundai cars
The American Express Centurion Card is the byword or exclusivity. Also called the “Black Card” because of its color, it offers the cardholder almost an unlimited line of credit, and a host of other services.
Now, Hyundai has reported that more than 6% of Black Card holders also have a Hyundai in their garage. Hyundai U.S. Chief John Krafcik recently reported this fact in a presentation at the company’s engineering and research center near Ann Arbor.
What makes this fact extra curious is the oft-held belief that Hyundai cars are only attractive to people who are not into paying anything more than required to get a car. There is a lot of truth in this because most of Hyundai cars are in fact available at an attractive discount to its competition.
However, as the latest fact shows, even the rich are attracted to Hyundai cars. And, are they rich! The average Black Card holder has more than $16 million in assets, and has a household income of more than $1.3 million. One cannot apply for the card, because it is an invitation-only card. The card is so exclusive that only the members even know all the benefits available to them; otherwise American Express does not even mentions the benefits in its website.
John Krafcik shared this information as the company revealed the specifications for its 2012 Hyundai Genesis sedan. Newly added features include an “R-spec” version with a 5.0L direct-injection V8 that produces 429 horsepower, and an all-new 8-speed automatic transmission.
What Krafcik also told to the media is that the Genesis might get a all-wheel drive, though this may not happen in this year’s model. The lack of all-wheel option in the Genesis sedan may be adversely affecting sales in the Midwest and Northeast, where the competitors with all-wheel drive have more robust sales numbers.
Even with this slight hiccough in regional markets, the Genesis is on the way to break the 30.000 units sales barrier in the U.S. this year.