According to a recent consumer survey, faster growth is afoot for compact and mid-size CUVs and SUVs when compared to other vehicle segments.
Results from Morpace Omnibus Study reveal that 27 percent of the respondents report that they currently own either an SUV or CUV; 31 percent of consumers predict they will own one by 2013 – contrasting with the 20 percent ownership rate recorded in 2005.
“Our study suggests the only other segment expected to gain share by 2013 is the luxury CUV/SUV segment, though its share will remain small, with 3 percent of consumers owning such a vehicle,” reports Bill Pendry, the research firm’s vice president of complexity management, referring to models such as the Cadillac Escalade, Lexus RX350 and Mercedes GL class.
“The Morpace study results are consistent with current sales trends,” he says. “Compared to other segments, compact and mid-size CUV/SUV models are showing greater percentage gains in sales in 2010 vs. 2009.”
It is important to understand that reported percentage gains are shares of household fleets, Pendry adds. He expects that all segments will show sales growth over the next few years, even as their shares of household fleets adjust.
“Many new models of sub-compact, compact, and mid-size cars have been and will be introduced,” he observes. “Meanwhile, consumers will have a growing interest in the style and utility value found in compact and mid-size crossover and sport utility vehicles.”
For more information, visit www.morpace.com.
