Edmunds.com Highlights Top 10 Models Purchased by Subprime Buyers
June 13, 2012
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SANTA MONICA, Calif. — With the industry recovery fueled in
part by loosening credit for subprime buyers, Edmunds.com want to find out
which vehicles are being purchased most often by consumers with less than
Three models from one domestic automaker and two others from a Japanese OEM made up half of the list of top 10 models. Edmunds.com shared this list on its blog, "Inside Line."
Analysts said the figures and rankings represent 2012 sales through mid-May. They consider purchasers who are granted loan rates of 10 percent or higher to be subprime.
1. Mitsubishi Galant — Percentage of subprime purchasers: 43
2. Suzuki SX4 — Percentage of subprime purchasers: 41
3. Dodge Avenger — Percentage of subprime purchasers: 39
4. Kia Forte — Percentage of subprime purchasers: 37
5. Dodge Caliber — Percentage of subprime purchasers: 36
6. Nissan Sentra — Percentage of subprime purchasers: 26
7. Chrysler 200 — Percentage of subprime purchasers: 24
8. Dodge Journey — Percentage of subprime purchasers: 21
8. Nissan Versa — Percentage of subprime purchasers: 21
9. Chevrolet Sonic — Percentage of subprime purchasers: 20
"Automobile sales have led the charge in the slow post-recession economic recovery," Edmunds.com explained. "Much of the strength in this segment has come from a group of buyers who found themselves out in the cold when the economy was at its worst: those with subprime credit.
"During the direst days of the recession, those with poor credit had a hard time getting car loans. Default rates skyrocketed as borrowers grappled with the challenges presented by a weak economy, and lenders responded by tightening credit restrictions," the site continued.
"But these days, the sky has cleared. Banks are making it easier for those with less-than-stellar credit to obtain car loans, and this has played a big role in reinvigorating the industry," Edmunds.com went on to say.
The site's original blog post can be found here.
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