So far this year, the convertible market has had a slight increase in volumes. It’s currently up by about 3% compared to the same period last year. It’s still unknown though if the market will be able to recover enough to attain the 1.8 – 2.0% market share that it has enjoyed in the past.
The convertible market falls significantly behind the overall recovery of the automotive market which rose by 15.6% from CYTD of the prior year. When the market collapsed in 2009, the convertible segment was hit hard. Traditionally, convertible volumes have ranged between 1.8% to 2.0% of the market.
This varied depending on how many convertible entries were available, as well as the overall automotive market health and the newness of some of the convertibles that dominated the market. During the economic crisis, the convertible segment decreased to 1.4 to 1.2% of the market.
The share of the convertible market has been declining. But still, there are a few convertible models that are doing quite well. In 2011, the new Camaro convertible has had more than 7,500 registrations so far.
Other models that are selling well are Mercedes E Class and Mitsubishi Eclipse convertibles. The Chrysler 200 Convertible has been helping make up for the drop in sales of the Sebring Convertible (which was a topseller in the past years). It has been said that launching a new product is one of the keys to push sales of convertibles.
The industry has been focused on fuel efficient and practical vehicles, which don’t exactly describe convertibles. That is why it’s estimated that the convertibles will be included in the last segments that will recover.