Mexican Media Brands
Report: SUVs to Capture 34% of Europe Car Market by 2020
Europe’s love of SUV/crossovers has boosted the market share for such vehicles from 8% in 2009 to an expected 28% this year, according to market researchers LMC Automotive and JATO Dynamics.
#economics
Share
Europe’s love of SUV/crossovers has boosted the market share for such vehicles from 8% in 2009 to an expected 28% this year, according to market researchers LMC Automotive and JATO Dynamics.
LMC predicts the segment will expand to 34% of the European market—some 5.7 million sales—by 2020.
In the U.S., where the SUV craze began, such vehicles already account of 34% of passenger vehicle sales. Automotive News Europe notes a similar trend in China, where SUV sales have quadrupled over the past six years to 40% of sales so far this year.
ANE says SUV/crossovers are popular because they are stylish, practical and tap an emotional desire that many sedans don’t. Gains in SUV sales have come at the expense of virtually all other major vehicle sizes and segments, JATO says.
Experts see continued strong European demand for SUVs. But growth will be tempered by increasing consumer backlash against diesels, which power as much as 96% of luxury SUVs sold in the region.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.