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An Automotive Minute [S2|E38] A Closer Look at One SUV Category with Tom Libby
A Closer Look at One SUV Category
The sub-compact SUV category is one of the smaller SUV segments, based on market share, but it has contributed to the remarkable success of SUVs in general.
Sub-compact SUVs’ share of the U.S. market has grown from 3.4% at the start of 2016 to 4.6% now, and while this may not seem like much, it’s a 34 percent increase – which ranks second among all mainstream SUV segments.
Also, sub-compact SUVs continue to act as a “feeder” segment to both compact and midsize SUV categories, with 24% and 8% of consumers moving up to these two segments, respectively. In fact, households with a sub-compact SUV in their garage move up to a compact SUV more often than they move to any segment other than their own.
Lastly, households with a sub-compact SUV in the garage are exceptionally brand loyal; their brand loyalty of 55% in the first seven months of 2020 is higher than overall industry-wide brand loyalty and second among all mainstream SUV categories.
I’m Tom Libby with an S&P Global Minute.
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