SUV owners going back for more
As we know there’s been a big shift away from traditional passenger cars, i.e. hatchbacks, sedans and wagons, in recent years with SUVs and crossovers (CUVs) now being the ‘must have’.
Now new analysis out of the U.S. shows things are a long way from changing back, at least in that market.
IHS Markit found loyalty to the SUV/CUV is at an all-time high with more than two-thirds (66%) of current owners purchasing another new SUV/CUV this year.
That compares which just over half (53%) of SUV/CUV buyers coming back for more five years ago.
“We collect this data and provide it to our clients, but we felt that the results were so extraordinary SUVs and CUVs that we wanted to publicly release it,”
While Mr Libby says it isn’t just lower fuel prices that are having an impact on car choice.
“While one can make the case that a factor is fuel prices, there are some other key drivers to sport and crossover utility,”
“One is wide range of selection in price and size of crossover vehicles.
“SUVs also have the appealing combination where the driver gets the comfort level of being in a car but also gets the versatility of being in a larger vehicle.”
So where are all these SUV/CUV owners coming from? The answer to that is the traditional sedan, according to IHS Markit data.
“In 2012, consumer loyalty for sedans sat at 56% and has declined every year since,”
“While in the first four months of 2017, two-thirds of sedan owners that returned to market bought a new SUV/crossover.”
In Australia last month the VFACTS data shows SUV sales were up by 11.7% compared to June 2016, while passenger vehicle sales were down by 5.9%.
The big mover among the SUV/crossover segments is medium SUVs.
While Aussies are also switching to upper large SUVs (+20.8%), and pick-up/cab-chassis 4X4s (+16.7%) at a strong pace too.
Have you purchased an SUV/crossover? Are you happy with it? Would you ever go back to a sedan or hatch? Let us know in the comments section below.