Revival of the US economy has spurred a huge automotive demand in the US and the end of calendar year is always the buying season in the Northern hemisphere. However, a certain shift in consumer demand has been noted, as suggested by a research organization,
According to the recent statistics, compact cars are in huge demand by customers all over America due to the size, price and luxury. The romantic combination of all these factors and the topping of safety measures have made small cars a new sweetheart of
the American population.
The most successful car in the recent 2011 third quarter survey is the Hyundai Elantra. The hatchback is fully loaded with luxury and is priced as low as $15,000. Moreover, the resale value of this small and elegant piece of engineering is estimated around
“Elantra has been an absolute phenomenon in the compact car segment,” said John Krafcik, president and chief executive of Hyundai Motor America.
The Elantra’s time period from the factory to the customer’s porch is around 10 to 12 days. Therefore, it is not only the most appreciated car in the US but also most scarcely available one at the moment.
The survey further suggests three important pieces of information currently trending in the US:
- Small cars are hot, especially newly introduced models
- Many Japanese cars are still in short supply, after various supply chain problems
- Luxury SUVs are in high demand at the end of the year
Mother Nature encumbered the sales figures to soar up since 2008, when a lot of American got laid off, or were let go as the corporate sector puts it. The earthquake and Tsunami in Japan earlier this year, followed by the monsoon floods in Thailand resulted
in the short supply of key components.
The full production capability of these automotive companies is expected to restore no earlier than spring 2012.
Chevy Cruze, Ford Focus and Honda Civic are other hatchbacks in demand in North America however; they remain behind Elantra due to the expensive ownership.