Polk Reports 2004 Record Year For Convertibles, Sebring Still Tops

SOUTHFIELD, Mich., March 21 -- 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 as the 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)

  CHART 2

  TOP U.S. CONVERTIBLE MODELS
  2004 Calendar Year

    Make                            2004
  1 CHRYSLER SEBRING               37,147
  2 FORD MUSTANG                   33,235
  3 VOLKSWAGEN BEETLE              21,631
  4 BMW - 3                        17,035
  5 CHRYSLER PT CRUISER            15,137
  6 BMW - Z4                       15,059
  7 TOYOTA SOLARA                  14,896
  8 MERCEDES-BENZ SLK              13,185
  9 MERCEDES-BENZ CLK              12,215
  10 FORD THUNDERBIRD              11,844
  11 NISSAN 350Z                   11,312
  12 CHEVROLET CORVETTE             9,937
  13 LEXUS SC                       9,575
  14 MAZDA MIATA                    9,193
  15 CHEVROLET - SSR                9,125

  CHART 3

  TOP U.S. RETAIL CONVERTIBLE MARKETS
  2004 Calendar Year

    DMA                             2004
  1 LOS ANGELES                    26,632
  2 NEW YORK                       22,709
  3 MIAMI, FT. LAUDERDALE           9,214
  4 SAN FRAN, OAKLAND, SAN JOSE     9,019
  5 CHICAGO                         8,909
  6 PHILADELPHIA                    8,343
  7 WASHINGTON, D.C.                7,995
  8 TAMPA, ST. PETERSBURG           7,002
  9 ATLANTA                         6,780
  10 WEST PALM BEACH, FT. PIERCE    6,333
  11 DALLAS, FT. WORTH              6,318
  12 BOSTON                         5,956
  13 ORLANDO, DAYTONA BEACH         5,240
  14 PHOENIX                        5,083
  15 DETROIT                        4,994

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

  About R. L. Polk & Co.

R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Canada, China, France, Germany, Italy, Japan, the Netherlands, Spain, the United Kingdom and the United States. For more information, please visit http://www.polk.com/ .