WASHINGTON — Suddenly the much-maligned minivan has some company — sales of the family sedan are falling, and falling fast.
For the past 14 years, the Toyota Camry has been the top-selling car in the United States, seating five and impressing passengers with a comfortable ride at an affordable price.
Yet, in 2016, sales of midsize cars have continued to fall each month, leaving demand for the one-time-staple at a five-year low.
In August alone, sales of the Nissan Altima, Ford Fusion, Hyundai Sonata and Kia Optima have dropped more than 30 percent, according to Automotive News.
Analysts say sedans are being passed over for sports utility and crossover vehicles.
“That larger sedan buyer just sees more value in the SUVs or CUVs,” Mike DeSilva of Liberty Hyundai, in Mahwah, New Jersey, told AutoNews. “Going into winter, we’re really going to get into SUV season.”
Compact crossover vehicles could become of the top-selling autos for the year for the first time, as midsize cars likely will fall to fourth, according to AutoNews.
Worried carmakers are offering deep discounts midsize cars, with incentives 7 percent over those offered last August.
“It doesn’t matter how deep you discount the leisure suit and bell-bottoms — nobody’s going to buy them if they’re not fashionable,” said analyst Eric Lyman, at TrueCar.
Overall, the car industry is having a strong year. Some economists believe a strong second half of the year could result in a potential record year for the industry.
