Compact Car Sales Up
Thursday August 17, 2006
Back in the late 1970's the sales of smaller cars skyrocketed as consumers tried to deal with increasing gasoline prices by finding ways to save fuel. Obviously the smaller vehicles weighed much less, had smaller engines, and thus used less gasoline. Point taken, gas was saved.
As history once again repeats itself, the trend in automobile purchases has gone from gas guzzling SUV's to smaller, fuel-efficient vehicles. Sales of the diminutive vehicles, called "B-Cars" by the automotive industry, are up 43 percent in the first seven months of the year from the same period last year. So far this year, 151,848 of these smaller cars have been sold, and analysts predict that sales easily will surpass the 175,387 sold in all of 2005. But don't expect to see a sudden influx of the aesthetically dreadful eco-box. The fuel-saving cars of today don't sacrifice looks for economy. Demand for the sporty yet small Honda Fit and Toyota Yaris is so high that dealerships often sell the cars at or above the sticker price before they even arrive on the showroom floor. Even though it was only released in March, the Yaris has sold 32,822 cars as of July 31st.
The subcompact cars average around 35-40 miles per gallon of gasoline. Prices range from under $10,000 to around $16,000. With a low sticker price, and a lowered cost at the pump, experts foresee the subcompact class growing to around 600,000 vehicles sold by the end of the decade.
According to AAA's Fuel Gauge Report, the national average for gasoline is at $2.977 per gallon.
As history once again repeats itself, the trend in automobile purchases has gone from gas guzzling SUV's to smaller, fuel-efficient vehicles. Sales of the diminutive vehicles, called "B-Cars" by the automotive industry, are up 43 percent in the first seven months of the year from the same period last year. So far this year, 151,848 of these smaller cars have been sold, and analysts predict that sales easily will surpass the 175,387 sold in all of 2005. But don't expect to see a sudden influx of the aesthetically dreadful eco-box. The fuel-saving cars of today don't sacrifice looks for economy. Demand for the sporty yet small Honda Fit and Toyota Yaris is so high that dealerships often sell the cars at or above the sticker price before they even arrive on the showroom floor. Even though it was only released in March, the Yaris has sold 32,822 cars as of July 31st.
The subcompact cars average around 35-40 miles per gallon of gasoline. Prices range from under $10,000 to around $16,000. With a low sticker price, and a lowered cost at the pump, experts foresee the subcompact class growing to around 600,000 vehicles sold by the end of the decade.
According to AAA's Fuel Gauge Report, the national average for gasoline is at $2.977 per gallon.