Minivan Market Slumps But Consumer Interest Grows, Exceeds Interest in CUVs. NADAguides.com Analysis Finds That Consumers Are Still Considering Minivans

COSTA MESA, Calif., June 9 /PRNewswire/ — Though minivan sales are
down substantially this year over last, the segment is still key on the
radar screens of new car shoppers and now slightly exceeds interest in
crossover utility vehicles (CUVs), according to a new study by
NADAguides.com. The company says interest in minivans increased 74.3
percent at its website from January to May this year, while interest in
CUVs over the same time period increased 73.5 percent. Further, the most
dramatic shift occurred over the last month, where consumer interest in
minivans increased 1.6 percent from April to May, while CUV interest
declined 5.3 percent in the same time frame. The company attributes this
increase to minivans’ good gas mileage, high safety ratings and
family-friendly features.

The company defines “consumer interest” as the number of in-market
vehicle shoppers at its website, http://www.NADAguides.com, who accessed
pricing information for a specific vehicle. Crossover utility vehicles are
defined as vehicles that have characteristics of both SUVs and cars.

“We believe this is another indicator the tide has shifted and the
minivan market will stabilize this year,” said Tara Baukus Mello, senior
writer and lead market analyst at NADAguides.com. Minivan sales in the U.S.
hit a high in 2000 at 1.37 million units, just as crossover vehicles began
to arrive on the market. Minivan sales have declined steadily, while
crossover sales have increased dramatically, as the number of models in the
CUV segment increased. At the same time, several automakers opted to get
out of the minivan market. Ford stopped producing its Ford Freestar and
Mercury Monterey minivans for the 2007 model year and General Motors has
said it will stop making minivans at the end of this year.

“Though the minivan segment has gotten smaller, the models available
have high safety ratings and are full of family-friendly features in a
package that has similar gas mileage to crossovers,” said Baukus Mello.
“Minivans have two features — sliding doors and a lower step-in height –
that aren’t seen on crossovers and are often strong selling points with
families. As CUVs have become commonplace, many minivans have been
redesigned, making them cool once again,” she added.

The top three minivans consumers researched pricing information for in
May were the 2008 Toyota Sienna, followed by the 2008 Honda Odyssey and
finally the 2008 Chrysler Town & Country, which narrowly beat out its
sibling, the 2008 Dodge Grand Caravan. “This is not a surprise, since not
only are these the best-selling minivans today, they are the most
established brands in the segment,” said Baukus Mello.

The 2008 Mazda MAZDA5 minivan had the greatest increase in interest at
122.4 percent from January to May, which points to consumers shifting
interest in automobiles, according to Baukus Mello. “The MAZDA5 is the most
fuel efficient minivan today with EPA-estimated fuel economy of 22 mpg city
and 28 mpg highway, and a base price with destination fees of $18,645,
which makes it very appealing to consumers who are faced with a struggling
economy and rising gas prices,” she said. “Though it is more compact than
most of its competitors, it still seats six, has sporty handling and sleek
styling,” she added.

Baukus Mello also commented that the slight decline in interest over
the last month in the CUV segment is not likely to indicate an overall
decline in crossover sales for the year. She said, “Crossovers are
definitely here to stay and will still be the vehicle of choice for many
consumers at least in the near term. What we believe it does indicate is
that while the minivan market may be smaller, it isn’t going away anytime
soon.”

About NADAguides.com

NADAguides.com is the world’s largest publisher of vehicle pricing and
specification information for new and used cars, trucks, vans, and SUVs, as
well as van conversions, limousines, classic and collectible cars, boats,
personal watercraft, RVs, motorcycles, ATVs, snowmobiles and manufactured
housing. At NADAguides.com (http://www.NADAguides.com), consumers have
access to a variety of new and used vehicle services in addition to
valuation information.

SOURCE NADAguides.com

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