Study Determines Most Popular Models and States for Ragtop Buyers
With peak convertible season upon us, Cars.com (NYSE:CARS) dug into the data to determine the current state of the ragtop. While convertibles remain popular in some parts of the country, they account for a small piece of overall vehicle sales, so Cars.com analysts looked at what’s available, what’s popular and where in the U.S. shoppers are buying the most and least of these iconic summertime cars.
“There are 30 models categorized as convertibles that are currently available, which is 11.2 percent of all new vehicles on the market, yet convertibles only capture 0.8 percent of sales at dealerships,” said David Greene, a data analyst with Cars.com. “When compared to a segment like minivans, which has just seven models available and double the sales market share of convertibles, it is obvious just how aspirational the convertible segment is.”
Despite so few options available in the segment, convertibles are not just for luxury shoppers. The 30 models available to shoppers range drastically between the most affordable and most expensive options. For example, some dealers typically ask $19,283 for the Fiat 500 Cabrio, and others ask $190,875 for the Audi R8 Spyder.
Cars.com analysts researched the data to determine which convertibles are most popular and where in the U.S. consumers have the most interest in purchasing a convertible.
1. Chevrolet Camaro
2. Mazda MX-5 Miata
3. Mercedes-Benz S-Class
4. Jaguar F-TYPE
5. Chevrolet Corvette
6. Ford Mustang
7. Porsche 911
8. Mercedes-Benz C-Class
9. BMW 4 Series
10. Fiat 124 Spider
2. New Mexico
4. New York
The 5 states with the least convertible shopper interest according to Cars.com site data:
2. North Dakota
The top 5 states with the highest convertible sales according to Cars.com proprietary sales data:
5. New Jersey
The 5 states with the lowest number of convertible sales according to Cars.com proprietary sales data:
1. North Dakota
“It’s no surprise that states like Florida, California and Hawaii made the most-popular lists,” added Greene. “They’re all among the wealthiest states as determined by household income, and of course the year-round sunshine in those states makes convertibles a sensible lifestyle choice.”
For more information, visit www.cars.com/news.