>>28569273
Because it gives you all the perceived drawbacks of a coupe but even worse. The convertible mechanics impede rear seat room, destroy trunk space, add weight, and add new things that require maintenance whether that be the rag tops or hydraulics for complex hardtop roof mechanisms.
When people only can afford one "new" car it's more likely to be an all-purpose vehicle like a cuckover rather than something perceived as incredibly impractical. It's why coupes, not just convertibles are dying, too, with the only exception being for higher end luxury cars and exotics.
People are also pansies coddled by their 70 degree climate control. It was raining reasonably heavily when I saw what seems to be Hunter S Thompson pulling along side of me a few days ago, for instance. Literally 100% of the other cars on the road were all riding with the windows closed and AC on (yeah, myself included).