Amid an economic slowdown and rising gas prices, Americans have changed their car buying habits significantly this year. Small cars are suddenly hot sellers. Nothing else is. Minivan sales have crashed, and the giant SUVs that dominated the automotive market just a few years ago are now nearly impossible to sell. This morning, we have another casualty to add to the list: convertibles.
Michigan Live reports, "R.L. Polk & Co., which tracks vehicle registrations, says the convertible market declined last year for the first time since 2004." The Ford Mustang convertible was the best-selling droptop in the U.S. last year, but even Mustang registrations dropped 33.3 percent in 2007.
Jalopnik reports that convertible registrations "slumped in 2007, dropping 8.6 percent" after four straight years of growth.
Experts say the economy is to blame. Autoblog comments, "Convertibles are not viewed by consumers as a sensible shoes purchase." If you actually are in the market for a convertible, however, "The upside is that as inventory ages on lots, deals get hotter."
Research convertibles, including the best convertibles under $25k with U.S. News car rankings and reviews.
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