NEW YORK, NY – SEPTEMBER 30: A general view of atmosphere during the Ford launch of the Mustang ICON 50 with partners ESPN The Magazine, Hard Rock Hotels & Casinos, Mashable and Zagat at Pillars 37 on September 30, 2014 in New York City.
(Photo by Slaven Vlasic/Getty Images for Ford Motor Co.)
People who were born around 70 years ago are no longer interested in sports cars. This seems like the case after sales of sports cars dropped as the first baby boomers are turning 70 years old.
People who were born between 1946 and 1964, particularly the men, are now too old for sports cars. According to a report, that is one of the major reasons why sales of sports cars have been down lately.
According to Forbes, the first sign that the baby boomers have indeed become too old for such “toys for the big boys” is when a number of car manufacturers reported a drop in the sales of their popular sports cars.
Ford Motor Co. even had to stop manufacturing the popular Ford Mustang in their Detroit plant. The plant was idled for one week to let the demand catch up with the supply. Fortunately for their employees, they were paid during the work stoppage. Unfortunately for the company, their Mustang sales fell by 32 percent from the previous month.
The drop in the Mustang’s sales allowed the Chevrolet Camaro to overtake it for the best-selling sports car during the month of September. However, Chevrolet also reports a drop in their sales.
Car owners and prospective buyers now prefer sport-utility vehicles. This is understandable according to Eric Noble, president of a consulting firm called CarLab. “Boomers are starting to age out of sports cars,” said Noble. He also believes that people in their 60s are looking more at comfort rather than style.
The fear of these auto manufacturers is that no specific demography is currently seen as replacements for the baby boomers. The population of the Generation X is generally fewer than those of the baby boomers so there are fewer people between the age of 35 and 50 who will even think of buying a sports car.
The next generation – the millennials – are generally too young to afford sports cars. Plus, most of them prefer electric cars, hybrids, and small-bodied cars.