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ASC Inc. Announces Increase in Convertible Sales Continues in 1998

7 April 1999

ASC Incorporated Announces Increase in Convertible Sales Continues in 1998

              LA, New York Are Top Cities For Convertible Sales

    SOUTHGATE, Mich., April 6 -- For the third straight year,
convertible sales in the United States have remained over the 200,000 vehicle
mark, according to ASC Incorporated, the world leader in convertible programs.
Market volume figures for calendar year 1998 were announced by ASC's Mark
Pauze, marketing manager.
    Sales of convertibles in the U.S. in 1998 totaled 244,435, spread among
38 foreign and domestic models.  The 1998 figure is up from 1997 sales of
221,828, and continues the steady growth in convertible sales that began in
the early 1990s.
    "Convertible sales for 1998 broke the three percent level of U.S.
passenger car sales -- for the first time in over 20 years," said Pauze.
"Since the late 1980s, U.S. convertible sales have remained at around two
percent annually until 1997, when they jumped to 2.7 percent of passenger car
sales."
    Los Angeles and New York City were the leaders in U.S. convertible sales
during 1998, according to the ASC report. Sales in the nation's top five
markets -- Los Angeles, New York City, Miami, San Francisco and Chicago
-- represented 34 percent of overall sales for the year.  "These same five
cities led the nation in convertible sales in calendar year 1997 as well,"
said Pauze.
    "The continued growth of convertibles is significant," Pauze said.
"More people are looking at the convertible as a serious choice when buying a
car.  There is a wide range of convertibles offering the individuality drivers
seek, in every price category.  The continued introduction of exciting new
convertible models has captured the attention of the market.  With more
convertible introductions on the horizon, the strong convertible sales trend
is expected to continue."
    The Chrysler Sebring led for the third year as the top-selling
convertible, with more than 50,000 units sold.  Other top-selling convertibles
include the Ford Mustang, Mazda Miata, BMW Z3, Volkswagen Cabriolet,
Mitsubishi Eclipse, Chevrolet Corvette, Mercedes Benz SLK, Porsche Boxter,
Mercedes Benz SL, Chevrolet Cavalier and Pontiac Sunfire.
    ASC supplies convertible systems on the BMW Z3, Mitsubishi Eclipse,
Chevrolet Cavalier and Pontiac Sunfire, as well as the convertible boot for
the Chrysler Sebring.  Market-wide, ASC also supplies convertible systems to
the Chevrolet Camaro, Toyota Celica, Pontiac Firebird and Toyota Paseo.  In
addition, ASC will provide a convertible system for the new Toyota Solara, to
be introduced in spring 2000.
    ASC is a global specialty vehicle and products manufacturer with four
operating activities:  Creative Services, Specialty Vehicles, Engineered
Systems and Aftermarket Products.  Headquartered in Southgate, Mich., ASC
maintains operations throughout the U.S. and Canada, and in Germany and Korea.