Autotrader signals huge boom in minivan popularity
Perfect storm for a comeback as minivan sales increase at peak rate
ATLANTA, August 6, 2021 / PRNewswire / – According to a recent report from Cox Automotive, the minivan has lost its second place in other segments and is once again in the limelight. In the second quarter of 2021, sales of minivans increased by 84%. While almost all new car segments posted gains in the second quarter of 2021 compared to the dismal previous quarter of 2020, few high-volume segments grew at the same rapid pace as people carriers – a remarkable achievement given that the segment does not includes only five choices in United States (two Chrysler vans, one Honda, one Kia and one Toyota).
In the second quarter of 2021, sales of minivans increased by 84%.
This year created the perfect storm for minivans to make a comeback. In the first half of 2021, automakers sold 167,496 new minivans, pushing the market share from 1.9% to 2.0% between Q1 and Q2, according to Cox data Automotive. The incremental increase is significant because minivans gained the 0.1% market share that full-size SUVs lost over the same period, once again demonstrating the shift from the darling SUV to the family car. to minivans.
Without the lingering major effect of a global microchip shortage on new car production, Americans would surely have bought even more minivans. The impacts on supply are evident when looking at the number of sales of minivan models in the first quarter versus the second quarter, as dealerships find it increasingly difficult to keep models on their lots. Gains in demand as well as limited supply have boosted transaction prices as a result, the average transaction price of a minivan in July 2021 to a record $ 43,033 – higher than any other segment last month.
“People carriers are extremely popular right now – after decades in the shadow of SUVs as the cool family car of choice, the van is back,” said Brian moody, editor-in-chief for Autotrader. “Trends are cyclical and the van follows suit. Vans have just the right combination of retro, uniqueness, and absolute functionality. In addition, today’s minivans are much more luxurious than previous generations. While there are limited options available in terms of model choices in inventory available on dealer lots, the all-new minivans and recently redesigned favorites have refreshed the segment and captured the attention of the car buying public. We also have anecdotal evidence that indicates that families are more eager to hit the road after being locked up for much of the past year and more, and there is no better family travel mobile than a minivan. “
While there is an abridged range of new minivan models available, the segment remains relevant due to its rich focus on family characteristics. Toyota’s recently redesigned Sienna has moved to a fully hybrid lineup that offers excellent fuel economy. The Chrysler Pacifica has an SUV styling and optional all-wheel drive. The all-new Kia Carnival offers an ultra-luxurious interior and haute couture style. The ever popular Honda Odyssey has flexible interior features, and the economy Chrysler Voyager rounds out the list of minivan options available to Americans.
The ever popular Honda Odyssey and budget Chrysler Voyager round out the list of minivan options available to Americans.
For more information from Autotrader about minivans, visit https://www.autotrader.com/oversteer/minivans-yes-minivans-are-insanely-popular-right-now.
For more information and Autotrader news, visit press.autotrader.com, follow us on Twitter at https://twitter.com/Autotrader_com (or @Autotrader_com), Instagram at https://www.instagram.com/autotrader_com/ (or @autotrader_com), like our page on Facebook at https://www.facebook.com/autotrader/, and LinkedIn at https: //www.linkedin.com/company/autotrader-com.
Autotrader is the most recognized third-party car ad brand with the most engaged audience of car buyers in the market. As the leading authority on automotive consumer information and expert in online and mobile marketing, Autotrader makes the car buying experience easy and fun for today’s car buyer who is looking for to find or sell the perfect new, pre-owned or certified pre-owned car. Using technology, buyer insights and local market advice, Autotrader’s comprehensive marketing and retail solutions enable consumers to close their deal online and guide dealers to digital marketing strategies. personalized products that build the brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive ™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com.
About Cox Automobile
Cox Automotive Inc. makes it easy for everyone to buy, sell, own and use vehicles. The more than 27,000 team members and family of brands of the global company, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Mannheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car buyers, 40,000 car dealership customers across five continents and many more in the automotive industry to prosper for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a private company, Atlantabased company with an annual turnover of nearly $ 20 billion. www.coxautoinc.com
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