Identifies Demographic/Buyer Behavior for Convertible Buyers
SANTA MONICA, Calif. — TrueCar.com, the authoritative voice in new car pricing and industry trend information, has identified the 10 Most Popular Convertibles. In addition, TrueCar also examined the buying behavior of convertible shoppers.
“The end of summer is a great time to buy a convertible, not only do buyers get some of the best savings out of the year, but they also get the perks of driving with the top down while the weather is still warm and sunny,” said Jesse Toprak, Vice President of Market Intelligence at TrueCar.com. “Convertible shoppers tend to concentrate on both coasts, even in colder weather climates such as New York and New Jersey, which ranked in the top five states of convertible purchases.”
Some of the key findings of the data include:
- The top five states for convertible purchases are California, Florida, Texas, New York, and New Jersey
- The lowest five states are Alaska, Wyoming, North Dakota, Montana, and Idaho
- About 40 percent of women purchase convertibles
- The top five convertibles purchased by those 34 years and younger are the Chevrolet Camaro, Ford Mustang, BMW 328, BMW 335, and Infiniti G37
- The age group that purchases convertibles in greater numbers are ages 35-54
- The top five convertible purchases by females are the Chevrolet Camaro, Volkswagen Eos, Chrysler 200, BMW 328, and FIAT 500
- The top five purchases by males are the Chevrolet Camaro, Ford Mustang, Chrysler 200, BMW 328, and Mercedes-Benz E-Class
- The top hobbies of convertible purchasers are traveling, dining out, conversing with friends, and reading
The Top 10 convertibles and their current savings include:
|Rank†||Top 10 Convertibles||Trim||Segment||MSRP||Market Avg*||$ Savings off MSRP||% Savings**|
|1||Chevrolet Camaro||2dr Conv 1LT||Sport Car||$31,080||$30,618||$462||1.5%|
|2||Chrysler 200||2dr Conv Touring||Midsize Car||$27,805||$25,691||$2,114||7.6%|
|3||Ford Mustang||2dr Conv GT||Sport Car||$35,505||$30,680||$4,825||13.6%|
|4||BMW 328||2dr Conv 328i||Luxury Car||$48,495||$45,593||$2,902||6.0%|
|5||Volkswagen Eos||2dr Conv Lux SULEV||Sport Car||$38,355||$36,621||$1,734||4.5%|
|6||Mercedes-Benz E-Class||2dr Cabriolet E550 RWD||Luxury Car||$65,675||$61,724||$3,951||6.0%|
|7||Mazda MX5||2dr Conv Hard Top Man Grand Touring||Sport Car||$29,745||$27,796||$1,949||6.6%|
|8||FIAT 500||2dr Conv Pop||Subcompact Car||$20,200||$19,701||$499||2.5%|
|9||MINI Cooper||2dr||Sport Car||$25,650||$25,163||$487||1.9%|
|10||Lexus IS||2dr Conv||Luxury Sport Car||$47,515||$45,832||$1,683||3.5%|
†Rankings are based on new car purchase data from 2011. The demographic data is based on purchases from 2011 as well as consumer surveys conducted in 2011 and 2012. *Market Average is estimated based on the national average amount of savings off of MSRP presented to www.truecar.com users by TrueCar Certified Dealers based on user-configured vehicles in the last 30 days, including destination and delivery charges after incentives that are subject to change, but does not include tax, title, licensing, documentation or processing fees, other state and governmental charges and/or fees, or any other charges or fees allowed by law. The Manufacturer’s Suggested Retail Price (“MSRP”) is determined by the manufacturer, and may not reflect the price at which vehicles are generally sold in the dealer’s trade area as not all vehicles are sold at MSRP. Each dealer sets its own pricing. Your actual purchase price is negotiated between you and the dealer. **Percent Savings is rounded to the nearest tenth.
TrueCar, Inc., headquartered in Santa Monica, Calif., with offices in San Francisco, Calif., and Austin, Texas, is an automotive pricing and analysis company that creates a better buying experience for dealers and consumers. As an online publisher of unbiased new and used car transaction data, its automotive information website, TrueCar.com, provides price reports that empower dealers and consumers to agree on the parameters of a fair deal by supplying a transparent, simple understanding of what others recently paid for identically-equipped new cars in their geographic area.
TrueCar is a data-driven company that sources and compiles car-buying information unlike anybody in the industry. Since its founding in 2005, TrueCar’s participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide. TrueCar’s national network of more than 4,600 Certified Dealers is committed to provide no-hassle pricing for some of the country’s largest membership and service organizations, including American Express, AAA, USAA and Consumer Reports that collectively represent more than one million monthly in-market customers.