SANTA MONICA, Calif. — New car shoppers are becoming increasingly more likely to consider a compact or subcompact car, reports Edmunds.com, the premier online resource for automotive information.
“A jobless economic recovery and high gasoline prices have caused a realignment of buyer priorities and almost unprecedented demand for small cars, just in time for the launch of a stable of tech- and content-rich new models,” reported Edmunds’ AutoObserver.com Senior Editor Bill Visnic.
According to Edmunds.com analysis, car shoppers in markets around the country are now much more likely to consider a compact or subcompact car than they were last year.
|Market||Increase in compact car shopping vs. 2010||Increase in subcompact car shopping vs. 2010|
“More options in the small car segment are drawing in more consumers,” stated Edmunds.com Analyst Jeremy Acevedo. “The Chevy Cruze, Fiat 500, Ford Focus and Hyundai Elantra are among the small cars that are stimulating interest.”
The bad news for consumers is that as demand goes up, inventory and incentives fall. According to Edmunds.com’s True Cost of IncentivesSM data, the national average incentive for the compact car in August 2011 was $864, down 63 percent from $2,318 in August 2010. In addition, subcompact car incentives in August 2011 averaged $520 per vehicle sold, down 57 percent from $1,211 in August 2010.
However, there are good deals to be had in the less popular segments such as midrange luxury cars, where the national average True Cost of Incentives was $4,228 in August 2011.
About Edmunds.com, Inc. (http://www.edmunds.com/help/
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. 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/