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Luxury SUVs Outsell Luxury Cars in U.S.
The overall luxury vehicle market in the U.S. is flat this year. But within that segment, SUV/crossovers have taken the lead for the first time ever, Edmunds.com reports.
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The overall luxury vehicle market in the U.S. is flat this year. But within that segment, SUV/crossovers have taken the lead for the first time ever, Edmunds.com reports.
The two vehicle types were nearly tied last year. But in the first nine months of 2016, SUV sales climbed 13% to a 55% share of the luxury segment. Demand for luxury cars dropped 13% over the same period, according to the Edmunds analysis.
Edmunds notes that SUVs account for more than half of total U.S. sales for Acura (65% SUVs), Cadillac (59%), Infiniti (61%), Lexus (57%), Lincoln (65%), Porsche (62%) and Volvo (73%).
The report notes that adding SUV models to the product lineup has helped low-volume players Jaguar and Volvo achieve “massive” sales growth this year. SUVs also are driving conquest sales. And SUV owners on average are more loyal than car owners.
Edmunds says 57% of women who buy a luxury vehicle in the U.S. opt for an SUV model. That’s up from 40% five years ago. Over the same period, the ratio for men grew to 49% from 37%.
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