Sports Car Market Not Recovering Despite Strong Sales for Domestics, says Edmunds.com Analysis
SANTA MONICA, Calif. — December 14, 2010 — Although overall car sales are trending upward, the sports car segment has seen no such recovery. Data collected by Edmunds.com, the premier online resource for automotive information, shows that the sports car segment is experiencing even slower sales than the bleak numbers recorded in 2009.
This year, sports cars have made up about 2.9 percent of all car sales down from its recent high of 3.1 percent in 2002. However, some sports cars from the domestic automakers are bucking the declining trends.
Dodge Challenger sales have made a 43.5 percent gain through November compared with the same period last year. Chevrolet Camaro sales are up 39.9 percent so far this year. Sales of the 2011 Ford Mustang are up 13.6 percent through November compared to the same time period last year, and sales of that vehicle should continue to improve now that the redesigned model is widely available.
"While the domestic 'pony cars' are bucking the strong downward trend, the other sports cars continue to endure significant declines," said Bill Visnic, Sr. Analyst at Edmunds.com. The Mazda RX-8 has seen a 50.3 percent drop from 2009, while the Mitsubishi Eclipse is down 52.8 and 60.9 percent for the coupe and Spyder models respectively.
"Even the Mazda MX-5 Miata, which many consider the bellwether of the sports car market, can't regain its footing," said Visnic, who noted that sales were down 19.3 percent through November compared to the same time period last year and are projected to be down 32 percent from 2005 sales at this year's end.
The Chevrolet Corvette is also suffering, having experienced a 9.7 percent drop in sales through November compared to the first 11 months of 2009. "While that may not seem like a huge drop, last year was Corvette's worst sales year since 1961," noted Visnic.
See more on sports cars sales trends at Sportscars Continue as Recession-Recovery's Biggest Casualties at http://www.autoobserver.com/2010/11/sportscars-continue-as-recession-recoverys-biggest-casualties.html.
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Edmunds.com Inc. publishes Web sites that empower, engage and educate automotive consumers, enthusiasts and insiders. Edmunds.com, the premier online resource for automotive information, launched in 1995 as the first automotive information Web site and hosts the most established automotive community online. Its mobile site, accessible from any smartphone at www.edmunds.com, makes car pricing and other research tools available for car shoppers at dealerships and otherwise on the go. InsideLine.com is the most-read automotive enthusiast Web site. Its mobile site, accessible from any smartphone at www.insideline.com, features the wireless Web's highest quality car photos and videos. AutoObserver.com provides insightful automotive industry commentary and analysis. Edmunds.com Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit. Follow Edmunds.com on Twitter@edmunds and fan Edmunds.com on Facebook at http://www.facebook.com/edmunds.