With top car brands tapping into the prevalent trends in the passenger vehicle market, there’s been a significant rise in the manufacture of electric vehicles in recent years. In such a scenario, the SUV model too has quickly adapted, with brands like Mercedes launching their own electric SUV.
Market Domination
For the longest time, sedans have been the preferred choice of family vehicles. It was in 2015 that SUVs took over the market for the first time, with experts citing the practicality, visibility, and changing technology as reasons for the shift.
In 2019 alone, SUVs contributed as much as 47.4% of the sales, followed by sedans making up for 22.1% of the sales.
A report on the Data Bridget Market Research states that the SUV market is expected to grow at a rate of 14.38% from 2021-2028.
Price
As the purchasing power of the population increases, so does the cost of the vehicles introduced into the market. The price of an SUV has been climbing over the last few decades. A J100 Wagoneer that had cost $3,332 in 1963 would now be priced around $29,059. Similarly, $10,897 would’ve fetched you the Daihatsu Rocky in 1990. But today, you’d have to shell approximately $20,000 for the same.
The average price for an SUV was 39% to 51% more than that of a sedan in 2017. A compact SUV would have cost you $28,700 in 2018.
Design
The shape and design of cars have evolved since the 90s from the two-box structure to a three-box sedan. SUVs today resemble the two-box cars from decades ago. There was a time when these two-door vehicles weren’t poised for comfort travel if families were involved. But over the course of years, the mechanics involved in the production of an SUV have significantly improved, allowing for four doors, reasonable height, and family comfort.
While the design of SUVs brings to mind their close cousins, the trucks and jeeps of the passenger vehicle segment, SUVs go one step further to combine a luxury appeal with ease of navigation.
There’s also been a significant change in the size of SUVs that are more popular these days. From large SUVs that once had a firm hold of the market, it has now been replaced by compact SUVs.
