A surprise may be in store for dealers as SUVs are anticipated to hit two noteworthy milestones by year-end — just in time for the holidays, according to a recent update from DesRosiers Automotive Consultants.
DAC said the SUV share will soar in 2024 through the 60% barrier for the first time, with the compact SUV segment in particular potentially passing the 500,000 unit mark — possibly even reaching 550,000 units. In comparison, market share for passenger cars has been reduced to less than 14%.
“Considering that compact SUV sales were only 417,000 units in 2019, the growth is staggering,” said DAC in its update. They noted that the compact SUV segment has ballooned to include 37 models, featuring a range of options such as sub-compact SUVs, intermediate SUVs, and luxury SUV segments.
DAC is known for having a soft spot for the station wagon, which it calls the “perfect combination of automotive functionality, style, and performance” (think Alpina B8 Touring, Subaru Levorg STI, and DB5 Shooting Brake). However, Andrew King, Managing Partner of DAC, was quick to highlight that the data “must always override all else” at the company — “and the numbers clearly show that the domination of the market by SUVs continues apace.”
