The rise of the convertible
Wednesday, March 26th, 2008 by admin
Convertibles are not your everyday cars. They are not sold because of their practicality, functionality or any other “ality”.
Typically they have a small boot, limited rear headroom and leg room.
But you don’t buy a convertible for your shopping trolley; you buy a drop-top for the wind in your hair and the “look at me” factor.
The convertible market is driven by new models and the latest fashion - sales peak each time a new model hits the showroom floor before dropping to a more constant figure.
In the past five years, convertible sales have risen by 80 per cent - with the total market growing by 19.6 per cent in the same period.
At the end of September, 9610 convertibles had been sold, compared with about 5331 in 2002. In 2002 there were 20 convertible models on sale. Today there are 42.
Sydney and Melbourne are the most popular places for drop-tops, mainly thanks to the climate.
The cheapest convertible is the Citroen C3 Pluriel, which starts from $29,990. The most expensive? The Rolls-Royce Phantom Drophead Coupe, a special-order model costing $1.19 million. It was launched here a few weeks ago and 12 cars have been ordered, seven of which will be on the road before the end of the year.
The Lamborghini Murcielago LP460 roadster will set you back a cool $700,000 (and that does not include on-road costs or luxury car tax). The Lamborghini just eclipses the Bentley Azure convertible, which retails for $649,000.
Convertibles come in many shapes and sizes from two-door, two-seaters to four-door, four-seat 4WDs.
Yes, there is a convertible 4WD on the market - the Jeep Wrangler. It is considered a hardcore 4WD first and foremost but with a roof that can be removed for wind-in-the-hair motoring. The Wrangler is Australia’s most popular convertible with 1422 sold at the end of September, ahead of Holden’s Astra by 364 sales.
The Mazda MX-5 remains a favourite with 910 sold, while the recently released Volkswagen Eos convertible has tallied 802 sales to claim fourth spot after just seven months on sale. BMW has sold 547 examples of the all-new 3 Series convertible since April.
The latest trend in convertibles is the folding metal roof, as seen in the majority of the convertibles to hit showrooms this year.
The next convertible to go on sale is the Ford Focus cabriolet, a two-door, four-seater with a folding metal roof. It is an important car for Ford, not only as a rival for the Astra but for further cementing the company’s move away from being known as “the Falcon company”.
“It’s a more premium type of mindset. These sorts of cars are not for everyone,” says Christine Wagner, Ford Australia’s product marketing manager.
“Looking at the small car convertible growth specifically, back in 2001 it started at about 400-500 [a year]. Now you are looking at … 3500, so it has grown quite markedly.
“The practicality of the retractable folding roof [has made a significant difference]. Most of these cars, [though] the rear seat is not huge, have four-seat practicality.
“One of the reasons the market has grown is that they are not as compromising as perhaps convertibles have been in the past. They do allow people to have a bit of fun but at the same time they are largely sensible to live with.”
The Focus goes on sale next month priced from $45,490 for the manual and $47,490 for the automatic.
Wagner says the company expects the Focus drop-top will strengthen the brand’s appeal to buyers outside of the large car market.
“For us it is very much about extending what Focus is all about. We have gone out of our way over the past couple of years to establish Focus as a brand value and a small car. [The Focus convertible] delivers on the aspirational ‘I want to enjoy my summer long days.’ It is all about building into that sort of lifestyle and allowing people to enjoy that without breaking the bank.”
Wagner says the company expects the convertible will account for a “reasonable” amount of growth and admits its price and size mean the company is looking at achieving similar sales figures to those of the Astra.
At the end of the year Chrysler will release its Sebring convertible. Next year comes the BMW 1 Series convertible - the cheapest ticket into the Bavarian’s drop-top range.
BMW spokesman Toni Andreevski says the 1 Series will attract new and younger buyers to the brand.
The 1 Series convertible comes with a folding fabric soft-top, which Andreevski says was chosen over a metal roof as it takes up less space, is lighter and cheaper.
“The new 1 Series coupe and convertible takes BMW back to the 1960s and ’70s sports sedan and coupe. BMW is stepping back into the small sports coupe segment and it should do more for BMW in terms of new customers.
“With a starting price of $60,000, the 1 Series is a more affordable convertible for those looking to get into a BMW. We expect about 300 to 400 sales a year,” he says.
Andreevski views the convertible market as steady.
“It’s not a hugely growing market. It is more driven by product innovation. New models tend to lift the market before it drops back down; it is cyclical, driven by new product launches.
“It is also somewhat fashionable. When there is a hot new car out there then it brings in new buyers.
“When you release a new convertible on the market you expect to have a good year and then it falls off back to the diehard convertible buyers.”
The most popular convertible in the BMW range is the 3 Series. The company has sold 547 since March. Of them, the most popular model is the most expensive, the twin-turbo six-cylinder 335i.
“People are buying the 335i because it has the same performance as a V8 but is $60,000 cheaper than the equivalent V8,” Andreevski says.
Mercedes Benz has seen big growth from its convertible models in the past five years.
In the first nine months of 2002, says Mercedes Benz Australia spokesman Peter Fadeyev, the company sold 460 convertibles from the SL, SLK and CLK convertible ranges. “For the same January to September period in 2007 sales of the same models total 885 - an increase of more than 92 per cent.”
Fadeyev says sales of the CLK convertible - the company’s most popular drop-top - have increased 78 per cent since 2002.
“What’s more, our traditional peak sales period for these cars is during November to February. Therefore, in comparison to our year-to-date sales figures, we anticipate even stronger sales rates for these three models as we approach summer.
“Over time, we expect to see continued sales growth of our convertible sports
car range.”
Convertible versions of Audi’s A5 coupe and the baby A3 are also expected, but not until 2009.
The A-V guide to the drop-tops currently in showrooms
Alfa Romeo Spider from $69,990
Aston Martin Vantage $269,000
Aston Martin Volante $365,250
Audi A4 from $83,400
Audi TT roadster from $77,500
Bentley Continental GT $399,500
Bentley Azure $649,000
BMW 3 Series from $94,900
BMW 6 Series from $228,800
BMW Z4 Roadster from $78,200
Citroen C3 Pluriel $29,990
Chrysler Crossfire from $69,990
Chrysler PT Cruiser from $35,890
Ferrari F430 Spider $425,000
Ford Focus (on sale next month) $45,490
Holden Astra $45,490
Honda S2000 $72,590
Jaguar XK $221,900
Jeep Wrangler $30,990
Lamborghini Gallardo $439,999
Lamborghini Murcielago $699,999
Lexus SC430 $162,074
Lotus Elise from $69,990
Maserati GranSport $260,000
Mazda MX-5 soft-top from $42,870
Mazda MX-5 hardtop $47,660
Mercedes-Benz CLK from $100,900
Mercedes SLK Roadster from $86, 374
Mercedes SL Roadster from $218,000
Mitsubishi Colt from $32,990
Mini Cooper from $37,500
Morgan $234,000
Nissan 350Z from $73,990
Peugeot 207 from $34,990
Peugeot 307 from $46,790
Porsche Boxster from 109,300
Porsche 911 from $221,200
Renault Megane $44,490
Saab 9-3 from $65,500
VW New Beetle $36,990
VW Eos from $47,990
Volvo C70 from $69,950
source:smh