Are Convertibles Poised For A Comeback

SOUTHFIELD (WWJ) While hot mid summer days have a lot of people thinking about convertibles, they aren't buying convertibles at the rate they did five years ago.

Data from RL Polk say the convertible share of the market dropped from two percent in 2006 to 1.2 percent last year.

"When the automobile market really collapsed in 2009, it particularly hit convertibles," said Mark Pauze, who's a senior solutions consultant at Polk. "That somewhat makes sense, because it is really a discretionary purchase."

(LINK: Read Mark Pauze's blog post on convertibles here.)

Pauze says there's been a slight uptick this year. The market also has some new players, including a convertible version of the Camaro, which has edged out the Mustang as the top selling convertible.

There's also a new convertible version of the Chrysler 200, the replacement for the Sebring convertible, which was once a top seller. Nissan has a new larger convertible called the CrossCabrio. And, on the small side, we're seeing a convertible version of the Fiat 500.

The convertible market, Pauze says, could even lead the overall auto market out of the recession.

"It's worth watching," he told WWJ AutoBeat Reporter Jeff Gilbert. "It may a little bit of the 'canary in the coal mine.' As we see that improving, we might be seeing the overall economy improving as well."

Connect with Jeff Gilbert:
Email: jdgilbert@cbs.com
Twitter: @jefferygilbert
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