Peabody, Mass. — Ever wondered what's happened to the corporate black sedan? As if Detroit needs a reminder of the changing tastes of American car buyers, a recent survey of smaller business chief executive officers indicates that the cars they're buying are likely to be high-priced models, with a median purchase price of $13, 500.
According to the 1981 Officer Compensation Report, published by Growth Resources Inc., some executives reported purchasing cars with values of more than $35,000, including European sedans and sports cars and a few Rolls-Royces. The ratio of executive earnings to the value of the company car can be as close as 3 to 1, the survey found.