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Banner Year for U.S. Convertible Sales - Highest Since 1960s

26 June 1998

Banner Year for U.S. Convertible Sales - Highest Since 1960s

    SOUTHGATE, Mich., June 26 -- Convertibles continue to grow in
popularity in the United States, with sales for model year 1997 up 11 percent
over those in 1996.  The market volume figures were announced by Mark Pauze,
market planning manager with ASC Incorporated, the world leader in convertible
programs.
    In 1997, U.S. convertible sales were over 220,000, which represents the
highest sales level since the late 1960s.  The 1997 levels continue to build
on a strong convertible market, which grew more than 20 percent in 1996.
    "Convertible sales in the U.S. have hovered around two percent of
passenger car sales since 1990," said Pauze.  "With the strong numbers in
1997, sales are approaching the three percent annual mark.
    "Seeing this strong growth in convertible sales for two consecutive years
indicates that this is a serious trend for the automotive market.  U.S. car
buyers are becoming more particular about the features and image of the cars
they drive.  They are looking for a car that better reflects their personality
and needs -- and a convertible is one means of that expression," Pauze said.
"Some exciting new entries like the BMW Z3 have helped the overall convertible
market to expand."
    The top-selling convertible in calendar year 1997 was the Chrysler
Sebring, with more than 54,000 units sold.  Other top-selling convertibles
include the Ford Mustang, BMW Z3, Mazda Miata, Mitsubishi Eclipse, Chevrolet
Cavalier, Volkswagen Cabriolet, BMW 328, Pontiac Sunfire and the Mercedes Benz
SL.  ASC supplies convertible systems on the BMW Z3 and Mitsubishi Eclipse,
and builds the Chevrolet Cavalier and Pontiac Sunfire convertibles through its
GENASYS plant -- a joint venture with General Motors.  Market-wide, ASC also
supplies convertible systems to the Chevrolet Camaro, Toyota Celica, Pontiac
Firebird and Toyota Paseo.
    ASC, a global specialty and derivative vehicle manufacturer and the leader
in open-air systems, consists of three independent business units:  Aeromotive
Services Company, providing automotive design, engineering and prototype
services; Automobile Specialty Company, offering derivative vehicle
development and manufacturing expertise; and American Sunroof Company,
manufacturing and distributing open-air systems (including sunroofs,
convertible tops, removable hardtops and molded products) for OEM and
aftermarket applications.  Headquartered in Southgate, ASC maintains
operations throughout the U.S. and Canada, and in Germany and Korea.