Stuff the planet, give me a sports car

[vztrt]

http://theage.drive.com.au/motor-new...1217-kzj2.html

Performance models lift the lid on sales
RICHARD BLACKBURN
December 19, 2009

Sales of high-end sports cars and cabriolets are booming as the economic recovery proves resilient.

New-car buyers are shunning environmental responsibility and belt-tightening and splashing out on cars that make a statement, according to new research.

A social analyst with Quantum market research, David Chalk, said the company's latest AustraliaScan survey revealed a big shift in new-car buyer priorities.

"In our most recent survey, the factors that were most important to people buying a new car were prestige, performance and the ability to tow," Mr Chalk said.

Environmental responsibility had dropped off the radar with buyers, while growing confidence about the economy had also influenced purchase decisions.

"We restrained ourselves last year and we pretended we wanted to buy a Toyota Prius or Honda Jazz," Mr Chalk said. "We were also scared by the global financial crisis. But there's a feeling now that we've dodged a bullet and are headed back to good times.

"People are saying, 'Why not buy a car that I enjoy?"'

The threat of higher interest rates was balanced out by more confidence about long-term employment prospects.

"People are feeling more secure about their employment and have the confidence to commit to a lease deal," he said.

The findings are backed up by recent sales figures, which show the GFC and recent interest rate hikes have done little to dampen consumers' enthusiasm for expensive sports cars and convertibles.

Sales of sports cars costing between $80,000 and $200,000 have grown by almost one-third in the past quarter, buoyed by a rush of new open-top models to hit the market this year.

The latest in a long line of new drop-top models arrived this week in the shape of a $130,000 performance convertible from German luxury brand Audi.

The new S5, based on the A5 convertible launched earlier this year, has a supercharged V6 engine putting out 245kW of power. Audi expects it to make up 20 per cent of its A5 cabriolet line-up, despite the fact it is almost $45,000 more than the entry-level model.

The S5 follows new drop-top releases from luxury rivals BMW, Porsche and Lexus, while at the top end, Ferrari has released its stunning circa-$500,000 California and Jaguar has updated its $250,000 XKR convertible.

The new releases haven't been limited to the upper end of the market, with Mazda offering an updated version of the MX-5, Mini launching a new cabriolet and Peugeot importing the new 308CC.

Sales of cheaper sports cars (less than $80,000) have also proved resilient to the economic downturn, with the market growing by 11 per cent in recent months.

It's not all good news for car companies, however, with buyers in the sports car market proving fickle and gravitating to the latest and greatest. Sales of two of the best-selling convertibles on the market, the Volkswagen Eos and BMW 3-Series, have dropped by more than a third.

Audi spokeswoman Anna Burgdorf said the company's convertible and sports car sales had almost doubled from 2008 to '09.

"Audi's convertible sales have definitely picked up in 2009," she said.

"Certainly the introduction of the new A5 Cabriolet and A3 Cabriolet has had a major impact with two desirable new models entering the market."

Mercedes-Benz spokesman David McCarthy said consumer confidence was translating to more buyer interest at the top end of the market.

"A combination of GFC-related production pauses, the first stage of the government investment allowance and a buoyant Aussie economy that defies the rest of the world have fed sales, as people seek to reward themselves," he said.

Car sales across the board have been boosted by the Federal Government's new-car tax breaks, which end on December 31.

As a result, showrooms that were swamped with stock this time last year are running low on some models.

Mazda's Steve Maciver said Mazda sales had increased in October and November.

"This can be attributed to a few different factors," he said.

"We often see some seasonal increase in sales of sports cars, and particularly convertibles like the MX-5, when the weather gets better."