Compact and Subcompact Vehicle Sales Continue to Rise

by Andrew Evans | Automobile.com | 10/12/2012

As the holiday season is rapidly approaching, car buyers seem to be favoring smaller models from brands such as Ford, Chevrolet and Honda. Whether the rising cost of gas is the driving force behind this trend has yet to be confirmed.

Bloomberg News recently reported that for the first time in over three years, one in five vehicles sold last month was a smaller model. Among the current top-selling compact and subcompact models are the Chevrolet Cruze, Ford Fiesta and Honda Civic. Automobile.com compared the cost to insure these three vehicles in the latest commissioned study.

The Findings

The survey showed Honda Civic drivers pay the least amount to insure their vehicles at an average of $887.63 annually. Ford Fiesta drivers pay an average of $924.00 and Chevrolet Cruze drivers rounded out the survey by paying an annual average of $1,037.00 for insurance. Civic drivers were 41.5 years old on average, Fiesta drivers averaged 47.3 years old and Cruze drivers averaged just over 50 years old.

GreenCarReports.com reported compact and subcompact car sales for the first nine months of this year is up approximately 50 percent over 2011, or the highest market share since 1993. According to Yahoo! Autos, September sales of the Cruze and Civic rose 36% and 56% respectively, compared to the same period last year.

Additional Considerations

Those who are looking to purchase a new car or simply save money on current insurance policies are encouraged to use the Automobile.com comparison feature unveiled over the summer. This new feature allows users to compare the cost of insuring virtually any make or model in a hassle-free, no-obligation manner.

Car buyers can use this valuable tool to research a make and model that will not come with exorbitant insurance premiums while current owners and policyholders can see if there are any savings to be had by switching to a new plan. Those in the market for a new or used vehicle should also consider the safety features and available safety ratings in order to maximize insurance savings.