What are the most popular used-convertible models in Europe?
28 August 2024
Convertibles are a unique segment of the used-car market, but which models are the most popular? Autovista Group experts from France, Italy, Spain, Austria, Switzerland and the UK analyse the data with Autovista24 journalist Tom Hooker.
Europe’s used-convertible segment has been impacted by many factors in the last few years. This includes a reduction in new models on offer leading to declining volumes, increasing car ages and rising days in stock. Furthermore, the transition to electric powertrains provides uncertainty around the body type’s future.
But which models have been the best and fastest selling in this category since 2021?
In general, convertibles take much longer to sell than other used body types, such as SUVs. For example, the fastest-selling convertible across the used-car markets of France, Italy, Spain, Austria, Switzerland and the UK was the Mazda MX-5 hardtop. It sold at an average of just over 41 days between January 2021 to August 2024.
However, when combined with the popular SUV segment, it was only the ninth fastest-selling model, and the only convertible in the top 10. The next fastest-selling convertible in this joint table was the Peugeot 308 CC in 42nd.
Ferrari surprise in Italy
Mass-produced convertible models such as the Mazda MX-5 and Fiat 500C tend to sell quickly in these six European markets compared to other offerings in the segment. However, lower-volume models can still be fast-selling on average if there is a quick sale.
In Italy, this is shown by the Ferrari California, which was the second fastest-selling convertible, leaving dealerships after just under 67 days. It was beaten by the Mazda MX-5 RF, which sold in nearly 64 days.
Other premium models in the top 10 included the Mercedes-Benz AMG GT and the BMW 8 Series, in eighth and ninth respectively. Meanwhile, some popular convertible models took longer to sell.
‘I am surprised to see that the Mini, one of the best-selling convertibles in the Italian market, is sold in an average of 93 days. I would have expected a figure closer to that of other top sellers, such as the Fiat 500C, which took 73 days to sell on average,’ commented Marco Pasquetti, head of valuations, Autovista Group Italy.
Looking at the best-selling models in Italy, the Fiat 500C has a comfortable lead, accounting for almost 22% of the Italian used-convertible market. This was followed at a distance by the Mini convertible, taking a 9.2% share. In third came the Smart Fortwo, capturing 6.7% of the market, although it sold faster at 68 days.
These three offerings are all designed for the mass market. However, in terms of the number of model options available to buyers, the sport segment of the convertible market outnumbers all others combined.
‘In general, convertible cars are not designed for the mass market, which demands features such as roominess, low fuel consumption, quietness and boot space, all of which are certainly not the strengths of this body type,’ Pasquetti explained.
‘It is a pleasure rather than a necessity to own a convertible vehicle and has always been so. Moreover, the mass market in recent years has focused on SUVs, which in my opinion do not particularly lend themselves to a convertible version, although this has been attempted with the Volkswagen T-Roc and Range Rover Evoque,’ he added.
Domestic domination in France
In France, three domestic models topped the convertible fast-sellers table. The Peugeot 308 CC sold the quickest at around 46 days on average. This was followed by the Renault Megane CC at just over 54 days, and the Peugeot 207 CC at 56 days on average.
However, none of these three models are present in the top 10 best-selling convertible models in the country. This table was led by the Mini convertible, which took a 15.6% market share. The Fiat 500C came in second, accounting for 11.4% of France’s used-convertible market.
‘The fast seller, in this case the Peugeot 308 CC, is not the top seller. This is because there is a higher offer than demand for the top seller as the market is crowded with both Mini Cooper and Fiat 500 convertibles,’ outlined Ludovic Percier, Autovista Group residual value and market analyst for France.
Meanwhile, the Ford Mustang provided a surprise in the fast-sellers table, sitting in fourth with an average of 62 days in stock. The BMW Z4 also had a strong result, placing in eighth and taking 67 days to sell.
The reason these more premium models are performing well could be due to lower volumes. ‘Vehicles sold in high volume on the used-convertible market will always need more time to sell. On the other hand, cars with fewer models available will be easier to sell. Sports cars are faster to sell in the convertible market, especially in the summer,’ noted Percier.
In the best-sellers table, the BMW Z4 led the sports segment and came third in the overall convertible chart (4.6% market share), followed by the Porsche 911 Carrera in fifth overall (4.3% market share).
Like Italy, the choice of models in the sports segment of the French used-convertible market outnumbers every other segment combined. This is caused by manufacturers discontinuing new mass-market offerings.
‘Convertibles are shifting away from the mass-used market as they are heavier than a coupe or regular car. With the increase of EV powertrains, brands are discontinuing convertible versions of their models, which is not the case for sports cars,’ stated Percier.
Mini mastery in UK
The Mini convertible dominated the UK best-selling convertibles table, accounting for 13.6% of used-convertible sales since the start of 2021. Some distance behind was the Mercedes-Benz E-Class in second and BMW 4 Series in third, taking a 6.4% and 6.2% market share respectively.
However, the Mini convertible was only eighth in the convertible fast-sellers table, taking on average 60 days to sell. It was beaten by the likes of the Mercedes-Benz AMG-SL, which sold in 57 days on average. Meanwhile, the Mazda MX-5 hardtop sold the quickest, remaining in stock for just 41 days. It was followed closely by the Citroen DS3 Cabrio, which took just 43 days to sell on average.
Yet, the top two models were significantly behind the fastest-selling models for other body types.
‘Convertible models clearly take significantly longer on average to sell than other body styles, with the top 10 ranging from almost 41 to 61 days compared with the average for non-convertibles 14 to 28 days,’ said Jayson Whittington, Glass’s chief editor, cars and leisure vehicles.
‘It is interesting that many of the top 10 fastest-selling convertibles either benefit from a folding metal roof or have something akin to a large opening sunroof, rather than a traditional fold-down material roof,’ he continued.
Expected results in Switzerland
In Switzerland, the Mini convertible was the best-selling used-convertible model since 2021, capturing 9.5% of the market. Looking at the fast-sellers table, this was topped by the BMW 3 Series, which took just under 67 days to sell on average. In second came the Smart Fortwo at around 75 days in stock, while the Peugeot 308 CC took just over 75 days to sell.
‘In the fast-seller table, we find the expected convertible models on top of the list. The fast-seller stock days for convertibles and coupes are high compared with the other more popular body styles like SUVs and others,’ explained Hans-Peter Annen, head of valuations and insights at Eurotax Switzerland.
However, there was a surprising result in both tables. The Chevrolet Camaro was the fourth fast-selling convertible in Switzerland, remaining in stock for 87 days on average. Elsewhere, the Porsche 911 Carrera held the second highest market share in the convertible market, accounting for 7.8% of the used-car category.
Flawless Fiat in Spain and Austria
The Fiat 500C captured the largest used-convertible market share in Spain, sitting at 16.5%. The Mini convertible came second with 14.6%, while the BMW 4 Series took third thanks to a 9.3% market share. The Porsche 911 Carrera impressed in seventh (4.3% market share) as well as the BMW Z4 in eighth (3.9% market share).
Looking at the fast-sellers table, the Mazda MX-5 performed strongly in Spain. The RF version led the market with just under 53 days in stock on average, followed by the standard version at nearly 65 days. The Smart Fortwo rounded out the top three, remaining in stock for just under 66 days.
In Austria, The Fiat 500C also accounted for the highest used-convertible market share, at 13%. Then came the BMW 4 Series with an 11.8% share in second, while the Mini convertible captured 9.8% of the market in third.
The Porsche 911 Carrera also performed strongly in this market taking fifth in the best-sellers table (6% market share) again beating the BMW Z4 in seventh (4.1% market share).
Topping the fast-selling used convertibles table in Austria was the Smart Fortwo-e. The city car sold in just under 31 days on average, a considerable distance ahead of the Fiat 500C in second, which remained in stock for nearly 67 days. The Audi A3 came third, taking 68 days to sell on average.
