BABY boomers are starting to outgrow their mid-life crisis years, and that’s bad news for automakers who want to sell sports cars.
It was a sign of things to come this month when Ford idled its Mustang plant for a week as sales for the year fell by nine per cent. Sales of other sports cars have faded at a similar rate, and even stalwarts like the Chevrolet Corvette and most Porsche models are slumping.
While there are still plenty of buyers who love the passing lane, automakers face a pesky reality. Men born between 1946 and 1964, who buy most sports cars, are cruising past their peak spending years. And as age 70 beckons, folding up like an accordion to get into the front seat of a speedy roadster is hardly the prescription for an aching back. Some are even turning to high-powered versions of luxury SUVs.
“Boomers are starting to age out of sports cars,” said Eric Noble, president of the CarLab, a consulting firm in Orange, Calif. “When you get into your 60s, comfort becomes more important. Sports cars are not going away, but the market will get smaller.”
— Postmedia Network Inc. 2016