BMW says SUVs killed the sports car market
According to Robertson, two factors seriously wounded the classic sports car market. First, the global economic crisis of a few years ago put a serious hurt on sales, according to Bloomberg. Further worsening the situation, the boom in popularity of luxury SUVs and crossovers in the past few years hasn't allowed for much recovery. Even car-hungry China hasn't helped much because of the smog in many cities and preference among some of the very rich there to be chauffeured.
Combined, Audi TT, BMW Z4 and Mercedes-Benz SLK sales peaked around 114,000 units a year in 2007, but they are only expected to reach 72,000 annually by the end of the decade. Robertson is pretty pessimistic about the market's comeback too. "Post-2008, it just collapsed. I'm not so sure it'll ever fully recover," he said to Bloomberg.
Despite the downturn, there's no reason to start eulogizing the sports car. The ones that are available or are coming make for some fantastic offerings. They range from the V8 power of the Chevy Corvette to the more lithe styling of the upcoming 2016 Mazda MX-5 Miata. Plus, a new Audi TT droptop is on the way. There's no reason to write the segment off yet.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models