25 Jul, 2011
Demand for Convertibles Down, But Camaro Convertible Leading All Sales
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Market share sales numbers for convertibles is down, way down.
Convertible volumes traditionally have hovered between 1.8% to 2.0% of the market depending on the number of convertible entries available, overall automotive market health and the freshness of some of the market-leading convertibles. During the downturn, the convertible segment fell to 1.4 to 1.2% of the market.
The question now is, “Will this market be able to rebound to the 1.8 – 2.0% market share that we have seen in the past?” In 2011, we are seeing a slight uptick in convertible volumes – up about 3% from the same period last year, but this lags the overall recovery of the automotive market which increased 15.6% from CYTD of a year ago. The convertible market is losing share.
On the positive side however, some new convertible models are doing very well in the market. The new Camaro convertible is leading all convertibles with over 7,500 registrations so far this year. The Mercedes E Class and Mitsubishi Eclipse convertibles are also doing very well. The Chrysler 200 Convertible is also helping offset lost sales from the Sebring Convertible which has been a top-seller in years past. New product is one of the keys to driving sales of convertibles.
Through the first 5 months of 2011, the Camaro convertible has been the top selling convertible, accounting for 12.4 percent of the entire convertibles sold in the US.
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