Big Love for Big Vehicles
Pity the poor sedan. Nowadays, crossovers and SUVs are all the rage among U.S. consumers, leaving the four-door with still a considerable portion of the market, but not a whole lot in the way of love.
This is underscored by new analysis from IHS Automotive, which shows that 63% of CUV/SUV owners who bought a new vehicle in the first quarter of 2016. . .bought another CUV/SUV.
Meanwhile, the comparable number for sedan owners/buyers is 53%. Just slightly above the average for all types of vehicles, 52.1%.
When it comes to luxury CUV/SUV owners, they know what they like and they like the body style they already have: 70.3% of those buyers in the first quarter went for another lux CUV/SUV.
Observes Tom Libby, manager, loyalty and industry analysis with IHS Automotive, “We continue to see the SUV/CUV segment reaching record registration volumes in the U.S. market. New designs and OEM marketing initiatives focused on capturing repeat buyers are helping this segment continue its substantial growth.”
And his colleague, Christopher Hopson, manager, North America light vehicle sales forecasts, thinks that this isn’t just a passing fad or fancy: “The high loyalty rates for SUVs and CUVs lend credence to the current shift from passenger cars to utility vehicles. We expect this shift to be sustained, even when fuel prices are expected to rise back above USD $3.00/gallon by 2020.”
People evidently love their CUV/SUVs.
The previous-generation Hyundai Elantra (2010 to 2015) had the edgy Fluidic Sculpture design forming its sheet metal; it’s bigger brethren, the Sonata, was more visible in this regard, though the smaller size of the Elantra gave the skin a greater tautness than was the case on the Sonata.
What happens if that $2.29 a gallon goes up by a couple of bucks a year from now? How are the pickup, SUV and crossover sales going to be then?
Often when there are vehicles that have ceased production and are in the process of being completely moved out of the system there are sales numbers that look like this: Honda Insight: June 2016, 9; June 2015, 126; % change: 93.1% Sometimes there is a vehicle that has just gone into production and it catches the sales at just the right time so that there are numbers that look like this: Honda Ridgeline: June 2016, 2,472; June 2015, 7; % change: 33,856% OK.