Posh convertibles

‘Posh’ convertibles lose snob value as sales soar

The convertible, once an eye-catching status symbol for the well off, is becoming a common sight on UK roads as more affordable models make roof-down motoring accessible to the wider population.

New research from Privilege Insurance reveals that convertibles are a popular choice for motorists earning less than the average national wage.  One in twelve drivers with an income of less than £27,000 already own or are planning to buy a ‘soft top’ in the next twelve months.

Sales of convertibles have rocketed in recent years.  More than 116,000 were sold in 2004ii, according to the Society of Motor Manufacturers and Traders – more than double the figure for 2000.  Soft tops now number over 4% of all total car sales – compared to two per cent only four years ago.

Londoners lead the way in top-down driving, with 6 per cent of the Capital’s motorists owning a convertible, closely followed by Wales and the South West (both 5 per cent).  Drivers in the North East are the least likely to feel the wind in their hair – only one per cent drive soft tops.

Women and men are equally likely to own a convertible, but of those who don’t, more women (32 per cent) than men (18 per cent) thought they would never be able to afford one.

Ian Parker, Managing Director of Privilege Insurance commented on the trends:
“More affordable convertible models have made open air motoring more accessible. Improvements in security have also helped bring insurance costs down.  You really don’t have to be posh to drive a convertible any more.”

Insurance for convertibles tends to be priced just one ABI group higher than for the equivalent ‘hard top’ model.  Most models require an immobiliser, although this comes as standard in the majority of new convertibles.   Insurers such as Privilege require soft-top owners to keep any valuables in a locked compartment or in the boot.

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For more information, contact iJack Communications:
Simon Francis, 020 7419 7340, simon.francis@ijack.com
Rachael Shaw, 0204 419 7335, rachael.shaw@ijack.com