SUVs, CUVs surpass sedans as most popular body style
SUVs and crossovers have surpassed sedans for the first time as the most popular body style in the U.S., according to an analysis by IHS Automotive. IHS looked at retail registrations in the first five months of 2014.
In that period, SUVs and CUVs accounted for 36.5 percent of the new vehicle market versus 35.4 perent for sedans. Five years ago, sedans led with 36.3 percent of the market, and SUVs/CUVs were 31.4 percent. SUV/CUV market share has increased 2.6 percentage points in the past year.
A key driver of the growth of SUVs/CUVs is the substantial product innovation and launch activity in the segment, led by larger models such as the Chevrolet Tahoe and GMC Yukon and smaller ones such as the Jeep Cherokee and Nissan Rogue, said IHS.
Hatchbacks, pickups, coupes, passenger vans and convertibles have all lost share in the past five years, especially hatchbacks and pickups.
Between product introduction activity and expected decline in fuel prices, market conditions in the short-term forecast point to continued momentum within the SUV/CUV segments, said Chris Hopson, manager, North American light vehicle sales forecasts for IHS Automotive. Longer term, concerns over fuel efficiency standards and rising oil prices are expected to pressure light truck sales.Download Bulletin PDF