SUV sales likely to grow globally

SUV sales likely to grow globally

The SUV market wont be slowing down anytime soon, according to a recent analysis by R.L. Polk & Co. SUVs now make up nearly 16 percent of the global vehicle market.

There are more SUV models and versions than ever, and rather than taking share from other SUVs, they will likely steal sales from other segments.

The SUV segment is developing in two directions, says the Polk report, What Comes After SUVs? One is the increase in personalization in higher-end segments, with SUV coupes planned by BMW, Mercedes and Audi. In the lower-priced segments, the price-benefit ratio and practicality hold greater sway, but there will still be opportunities for personalization.

The market still offers opportunities for niche products to become high-volume models, says the report, as the Honda CR-V, Toyota RAV-4 and Hyundai Tucson have done globally.