Rise Of The Tiny Car? Chevy Spark Sales Exceed Expectations
The number of people buying new cars these days isn’t what it used to be. Thus automakers rely heavily on “conquest” buyers, those drivers who are switching brand allegiances. General Motors has had some unexpected success with conquest buyers from the smallest car its ever offered for sale, the Chevy Spark.
54% of Chevy Spark buyers were conquest buyers who came to GM from another brand, and it wasn’t just the youthful Millennials buying this diminutive Bowtie. Just 30% of Chevy Spark buyers were under the age of 35, which means many middle-aged and older buyers are finding the Spark’s low price and good fuel economy a big draw.
More than that thouggh, areas usually dominated by truck sales, like Austin, Texas saw so many Sparks fly off of dealership lots that dealers have already had to order more. Despite being for sale in just 18 markets, sales of the Spark have exceeded their own expectations by a wide margin, selling over 2,600 units rather than the 1,900 GM expected.
This is surprising GM dealers and executives, and the auto media is quick to credit the Spark’s “edgy” design and hot colored palette of bright and pastel colors. But it probably has more to do with the $12,995 MSRP, among the lowest price points for any new car on the market. Combine that with up to 32 mpg city and 38 mpg highway (with the manual transmission) from the 85 horsepower engine, and the Spark represents a lot of potential to car buyers.
Add to that features not found on other budget rivals, like an infotainment center and touchscreen with a smartphone app. That appeals to many different demographics who all share a new found interest in the most bang-for-their-buck.
Anybody out there considering a Chevy Spark? If so, why?
Source: Automotive News