Back to the Future! New DeLorean Rolls Out in 2017

 

The dismal news of this week may have made us nostalgic. So be it. We were thrilled to read about the return of the DeLorean DMC-12. It is an iconic car, beloved by motor enthusiasts. The Back to the Future trilogy made it famous. The vehicle with gullwing doors and unpainted steel body came to symbolize the eighties. An enterprising Briton, who had bought the carmaker’s brand and intellectual property, will start making a revamped version at a plant in Humble, Texas, across the ocean from its original production site in Northern Ireland. Some will remember that the company folded in a financial scandal that cost the United Kingdom’s Treasury dearly. Still, as they say, children should not pay for their parents’ faults. Technological advances will make for a lighter DeLorean, and one endowed with a more powerful engine. A modern sound system will also replace its cassette player. But the fantastic car will come at a hefty price: $100,000. Only some three hundred of the new DeLorean will be made to order over the next few years. “They are only looking for fifty people per year to pay $100,000 for replica vehicles,” said John Quelch, professor of marketing at Harvard Business School. “If you call that success, they should be successful: This is nostalgia with a high price tag.” Nothing like an economist—and a very expensive price—to spoil a bit of good news.

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