Six of the Ten Hottest Cars in U.S. are Toyotas
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Compacts and Hybrids Dominate Top Ten Hottest List
Hardly good news to its competitors, Toyota has swept six of the Americas top ten hottest vehicles, according to a CNNMoney.com and Edmunds.com study.
The two publishers analyzed vehicle selling prices, sales incentive programs, and the times models spent on dealer lots, in order to arrive at its ten hottest car list, confirming just how much Toyota currently dominates the market.
Toyota, which was shown to be gaining six new car buyers for every one it loses in a J. D. Power and Associates owner retention study from last year, achieved top marks for its Prius hybrid electric vehicle (HEV), the hottest new car currently available. Prius is currently earning Toyota U.S. dealers 10 percent over its Manufacturer Suggested Retail Price (MSRP) of $21,725 - $28,615 plus $580 freight. Also, the Prius spends an average of nine days on a dealers lot before being purchased.
Toyotas all-powerful totally redesigned RAV4 is third most popular, showing that moving the crossover-SUV up to a midsize layout, introducing an optional third row and an optional 269-horsepower V6 were smart moves.
Toyotas edgy compact division, Scion, enjoyed sixth, seventh and eighth places with its compact xA hatchback, sporty tC coupe and funky xB econo-”box” respectively, while its luxury division, Lexus, performed well by placing its RX 400h midsize hybrid-powered crossover in ninth.
The top ten isnt solely made up of Toyotas, of course, with two domestic models sharing the four remaining spots; a sign that Detroit still has what it takes to compete when it gets bold and creative. But before the domestics, second on the list is MINIs funky Cooper, still cool after all these years. Pontiacs sexy Solstice is the fourth place finisher amongst Americas most wanted while Fords functional and efficient Escape Hybrid places fifth. Rounding out the top ten is Hondas superb new Civic, available in two body styles, sedan and coupe, the former including a fuel miserly hybrid version and the latter a 197-horsepower Si version.
As a note, the statistics were skewed slightly by Scions sales approach. Due to opportunities to personalize its vehicles with custom parts and accessories direct from the factory, most xA, xB and tC buyers order their cars instead of purchasing off the “rack” from dealer inventories, meaning that the brands “days in turn”, or the number of days Scion cars are on the lot before being sold, is extremely short.
Most notable in this study is that only two midsize models and no large vehicles are on the list, the remaining eight compact or subcompact cars. Even more so, the two midsize models are hybrid electric powered; the Prius (with exterior dimensions that border on compact) and RX 400h. Of the three SUVs on the list, two are also hybrid models.
Do a lack of SUVs and abundance of compact and hybrid models indicate a major shift in American buying priorities? While large vehicles, such as Fords F-150 pickup truck are still leading sellers, this example succeeding mostly due to its strong fleet sales, retail buyers are opting for fuel efficient vehicles now that the cost of gasoline is once again on the rise.
Will Toyotas dominance continue? Quite possibly it may not only continue to hold six of the top ten hottest car positions, but increase its share. Its all-new FJ Cruiser SUV, one of the most capable off-roaders in its class, is already selling out before hitting dealers, while its top-selling 2007 Camry is also now hitting showrooms. Reportedly, interest in the Camry is strong among midsize buyers throughout the U.S. - not surprising considering it leads American midsize vehicle sales.
While the cars on the CNNMoney.com and Edmunds.com top ten list are hot, others are absolutely not. According to a Detroit News report earlier this month, which arrives at its “hot and not” choices only by factoring in the number of days a particular model stays on dealer lots, the hot list is similar, with its top 10 including the Prius in second place, Scion tC in third, Civic in fourth, Scion xA in fifth, xB in seventh, RAV4 in eighth, Solstice in ninth, and lo and behold, Buicks new Lucerne in tenth.
Vehicles in the CNNMoney.com and Edmunds.com top ten that didnt achieve the Detroit News top ten include the Mini Cooper, rated twentieth, Lexus RX 400h, not even in the top twenty, and Fords Escape Hybrid, also not rating in the Detroit News top twenty.
The Lexus IS 350 passed the Prius for top spot on the Detroit News list; the list rounded out by the Porsche Cayman in sixth. Altogether, Toyota scored six hottest sellers within the Detroit News the top ten, exactly the same number as with the CNNMoney.com and Edmunds.com top ten. Additionally, Toyota achieved ten hot sellers out of the Detroit News top twenty.
And whats not so hot?
Interestingly, while Pontiacs Solstice achieves top-ten placement in both lists, Chryslers Crossfire roadster and coupe, which derive much of their parts from Mercedes-Benzs previous generation SLK, are dead last averaging 302 days on dealer lots. While theres little wrong with the Crossfire, Chrysler needs to replace it with something closer to its HEMI V8-powered Firepower concept if it hopes to move up the list. On the positive, Jeeps new Commander rates above average lasting only 48 days on dealer lots; better than average but not top-ten material. Back to the bad, Land Rovers Freelander is second least interesting to new car shoppers, lingering around dealer lots for an average of 248 days, while Fords Taurus, now replaced by the Fusion on the retail sales floor, rarely moves off the floor before 246 days. Surprisingly, Suzukis largest SUV, the XL-7 averages 245 days, Pontiacs soon to be axed Montana SV-6 averages 217 days, Suzukis Verona 216 days, Mercedes-Benzs CL-Class 214 days, Mazdas MPV 206 days, and Chevys SSR rounding out the bottom feeders at 197 days on the dealers lot before a sale.
A quick overview shows that most of the “not” cars are in their last year of production, with some soon to be cancelled, for good reason. On the other hand, there are no Toyotas, Hondas, Nissan, Hyundai, and, believe it or not, Mitsubishi within the bottom ten. Actually, only two of these brands appear in the bottom twenty, Hyundai with its soon to be replaced Santa Fe, a much-improved version already shown in Detroit and therefore well worth waiting for, and the Mitsubishi Endeavor, which is one of the best crossover SUVs currently available, soon to be enhanced with a five-speed automatic transmission. The fact that the Endeavor has Mitsubishis slowest turnover rate is strange, actually, as it might be its best model - EVO aside.
Important to note, vehicles on the “not” list shouldnt necessarily be overlooked in your quest for a new car, as they are often stylish, reliable, and, thanks to being neglected, ripe for a sweet deal. Chryslers Crossfire can be bought for thousands less, and when compared to a Solstice could represent a better value, depending on the sale price. If youre looking for a good deal, remember that with most of the models on the “not” list in their last years of production before being updated with all-new replacements, their 36-month residual values will be low thanks to greater depreciation. If you plan on keeping your car beyond the average four to five year model update cycle, then the depreciation wont be as noticeable.
The opposite side of this scenario is to purchase a car on either top-ten list, all of which should achieve higher than average resale values when it comes time to trade up or sell.
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