A Different Take on Small-Car Demand
Black Book predicted last week that the increase in small cars being made coupled with the disproportionate amount of consumers interested in purchasing them may lead to overproduction issues.
Offering a different take, an Automobile.com survey paints an alternate picture of where demand for these models stands.
It contends that the sales of compact and subcompact cars are on the rise, pointing out that “more than 20 percent of the cars sold last month were small models, which is the highest percentage of small car sales since 1993,” site officials said.
“Even in the first nine months of 2012, the sale of compact and subcompact cars have increased by 50 percent from 2011,” they added.
Though it may seem logical that high gas prices may be contributing to this rise, the site noted that the survey did not demonstrate that the rising cost of gas was the driving force behind the trend.
And which small models are catching consumers’ eyes?
According to the survey, the three most popular models this year are the Honda Civic, the Ford Fiesta and the Chevrolet Cruze.
“Honda Civic sales have increased by 56 percent from last year, and Chevrolet Cruze sales have increased by 36 percent from last year,” officials shared.
To view another take on the small-car segment of the market from Black Book, see the Auto Remarketing story here.