Polk Reports 2004 Record Year For Convertibles, Sebring Still Tops

SOUTHFIELD, Michigan -- Convertible registrations in the U.S. reached record levels in 2004, with a 6.3 percent increase over last year and total registrations reaching 315,306, according to R. L. Polk & Co., surpassing the 2001 record of 309,741. The Chrysler Sebring repeated asthe top-selling convertible in 2004 with 37,147 registrations.

"The success of the convertible in 2004 is due to a strong overall automotive market and several new convertible introductions," said Lonnie Miller, director, Polk Analytical Solutions. "Convertibles are considered a discretionary purchase, and as such a strong convertible market reflects an optimistic economic mood witnessed by the economic turnaround experienced in 2004." New convertible introductions in 2004 included PT Cruiser, Chevy SSR, BMW 645, MINI Cooper, Audi S4, Lotus Elise and Chrysler Crossfire.

Convertibles have held steady at 1.8 percent of the total market over the past three years. At 1.9 percent in 2004, convertibles are inching closer to 2 percent of the overall light vehicle market. The increase in the convertible market of 6.3 percent was significantly above the increase in light vehicle market registrations of 1.4 percent.

Following the Chrysler Sebring in vehicle rankings was the Ford Mustang with 33,235 registrations. The Volkswagen Beetle was third with 21,631 registrations and the BMW 3 Series fourth with 17,035. The newcomer PT Cruiser Convertible rounds out the top five with 15,137 registrations in its first year of production(CHART 2.)

"Convertibles have become an integral part of many manufacturers' strategy," said Miller. "They jazz up the brand's overall vehicle portfolio, attract a desirable demographic and serve as showroom traffic builders. The introduction of hardtop convertibles is making them more appealing and practical for a broader range of customers. Planned new convertible introductions and freshened models will keep this category lively."

Los Angeles and New York are the largest retail markets in the country for convertibles with more than double the amount of convertibles as the third largest market: Miami/Ft. Lauderdale. San Francisco came in fourth followed by Chicago, Philadelphia and Washington, D.C., Tampa, Atlanta and West Palm Beach rounded out the top 10 markets respectively (CHART 3.)

Source: R. L. Polk & Co. U.S. registrations