Staff Writer - CheersandGears.com
July 10, 2013
Convertibles have a small slice of the new car market. That slice seems to shinking even further.
According to data from R.L. Polk, sales of convertibles last year barely reached one percent. That's a major drop when compared to convertible sales of 1.6 percent in 2009 and 2 percent in 2006. In all, 151,636 convertibles were registered last year. While that is an increase in number of registations over the past few years, it still is lagging behind other vehicles.
The reason for this? Automakers are putting more development into more volume models such as midsize sedans and crossovers.
"They're sitting down and going through every potential product program and looking at the returns. When they see the volumes right now for convertibles, they're saying, 'Why would we do this?'" said R.L. Polk lead analyst Tom Libby.
There is some new metal on the way within the next few years. Jaguar has launched the new F-Type, a new Mazda Miata with an Alfa Romeo twin is just around the corner, and we have such models as the Corvette to look forward to. The question is of course is can this new crop help turn the tide.
Source: Automotive News (Subscription Required)