New Survey Suggests Sedans May Be Making a Comeback Soon
Sedans remain a popular choice among young drivers, with a reported 32 percent of motorists between the ages of 18 and 29 naming sedans as their top vehicle choice
It’s no secret that the popularity of sedans has decreased exponentially during the past few years. Once the industry’s go-to segment, sedans now only account for less than 30 percent of the new car market.
Therefore, many automakers have chosen to forego the production of sedans entirely. Yet, a new survey conducted by the CarGurus website shows that sedans could be ramping up for a resurgence in popularity.
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When survey participants were asked about which body style they would likely go with for their next purchase, 26 percent unsurprisingly went with an SUV. In a more surprising result, 25 percent of participants said that a sedan would be their next car.
Sedans were especially popular with drivers between the ages of 18 and 29. 32 percent said that a sedan would be their top vehicle choice.
So why the discrepancy between interest in sedans and actual sedan sales? The answer likely has to do with the average transaction price for a new car.
Vehicles are growing more expensive, with the average asking price hovering right around $35,000. Young drivers may not have the money saved up for such a large transaction, making more affordable sedans a better option for them.
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Of course, young drivers may simply choose to purchase a used car instead. Yet, even the transaction price of a used car is going up, with the market receiving a wave of pre-owned SUVs and pickup trucks.
Among drivers between the ages of 18 and 29, 34 percent said that articles declaring the end of the sedan segment were overblown. In fact, 65 percent of respondents in that age group predicted that sedans would grow more popular in the next five years.
Even amongst older drivers, 55 percent predicted a resurgence in sedan sales during the next few years. So, if automakers can weather the recent sales declines facing sedans without getting rid of these models, they may emerge from it rewarded with a clear advantage in this vehicle class.
New Source: Forbes
Zachary Berry currently resides in the Dayton, Ohio area. However, he enjoys traveling from place to place, as he was born in Oklahoma City and has also lived in Albuquerque and Orlando (such is the life of a military brat). Zachary graduated from Ohio University with a major in Strategic Communication, which is fancy talk for advertising and public relations. Beginning his career at The News Wheel as a lowly intern, he was able to climb his way to the top, eventually claiming his place within the last cubicle on the left. Other jobs that Zachary has held include driving around a safari truck at Disney’s Animal Kingdom. When he’s not putting his nose to the grindstone, Zachary enjoys watching and critiquing movies and television. See more articles by Zachary.