Autotrader Reports Big Boom in Minivan Popularity - The Van is Back in Style
Perfect Storm for Comeback as Minivan Sales Grow at Maximum Pace
ATLANTA, Aug. 6, 2021 /PRNewswire/ -- The minivan has shed being runner-up to other segments and is basking in the spotlight of popularity once again, according to a recent report from Cox Automotive. During the second quarter of 2021, minivan sales grew by a whopping 84%. While nearly every new-car segment showed gains in Q2 2021 versus the prior dismal Q2 2020, few high-volume segments grew at the same rapid pace as minivans – a remarkable feat considering the segment consists of just five choices in the United States (two Chrysler vans, a Honda, a Kia and a Toyota).
This year has created the perfect storm for minivans to make a comeback. During the first half of 2021, manufacturers sold 167,496 new minivans, which helped inch market share from 1.9% to 2.0% between Q1 and Q2, according to data from Cox Automotive. The incremental increase is significant because minivans gained the 0.1% market share that full-size SUVs lost during that same time period, demonstrating a shift away from the family-car darling SUV back toward minivans once again.
Without the ongoing major effect of a global microchip shortage on new-car production, Americans surely would have purchased even more minivans. Supply impacts are evident when looking at sales numbers of minivan models in Q1 compared to Q2, as dealers increasingly struggle to keep models on their lots. The gains in demand alongside limited supply have boosted transaction prices accordingly, with the average transaction price of a minivan in July 2021 at a record $43,033 – higher than any other segment last month.
"Minivans are extremely popular right now - after decades of being in the shadow of SUVs as the cool family-car of choice, the van is back," said Brian Moody, executive editor for Autotrader. "Trends are cyclical, and the minivan is following suit. Minivans have just the right combination of retro, uniqueness and absolute practicality. Plus, today's minivans are way more luxurious than previous generations. While there are limited options available in terms of both model choices available inventory on dealer lots, all-new minivans and recently redesigned favorites have refreshed the segment and caught the eye of the car-buying public. We also have anecdotal evidence that points toward families being more eager to hit the open road after being cooped up for so much of the last year-plus, and there is no better family road-trip-mobile than a minivan."
While there is an abbreviated range of new minivan models available, the segment remains relevant because of its rich focus on family-friendly features. Toyota's recently redesigned Sienna switched to an all-hybrid lineup that delivers great fuel-economy. Chrysler's Pacifica has SUV-like styling and optional all-wheel drive. The all-new Kia Carnival offers an ultra-luxurious interior and high-fashion styling. The ever-popular Honda Odyssey has flexible interior features, and the budget-friendly Chrysler Voyager rounds out the list of minivan options available to Americans.
The ever-popular Honda Odyssey and budget-friendly Chrysler Voyager round out the list of minivan options available to Americans.
For more information from Autotrader on minivans, visit https://www.autotrader.com/oversteer/minivans-yes-minivans-are-insanely-popular-right-now.
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About Autotrader
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com.
About Cox Automotive
Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com
SOURCE Autotrader
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