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Customer LoginsSmall crossovers climb to top of light truck market
In the last 24 months, as gas prices have risen and customers have continued to move to crossovers, the small non-premium crossover category has emerged as the most popular light truck segment. This top spot had traditionally been held by the fullsize pickup segment, which has lost favor because of rising gas prices and a depressed housing market. Compact CUVs now account for almost 13% of all retail new vehicle deliveries, close to double their share five years ago.
Midsize non-premium crossovers have also shown strength, rising to almost 8% of the market. The two non-premium crossover categories together now account for more than one of every five new vehicle registrations, and almost one of every four non-premium registrations.
The Honda CR-V is consistently the most popular small crossover, benefiting in part from being one of the first on the market when launched in the mid-nineties. The Chevrolet Equinox has become much more popular since its recent re-design that included the addition of a four-cylinder engine option.
An additional reason for the growth of the small crossover segment, and perhaps a result of that growth as well, is the fragmentation of the segment as several makes have launched niche vehicles to attract particular audiences. Nissan now markets three small crossovers including the traditional Rogue and the more "funky" Cube and Juke, and Kia offers the mainstream Sportage as well as the unique (and popular) Soul. With this fragmentation, the number of small crossovers has increased by almost half over the past five years to 23 products.
Conspicuously absent from small crossover arena is Dodge; the Nitro is small but utilizes a body-on-frame architecture that gives a truck-like ride. The arrival of a small Dodge crossover will fill a large hole in Dodge's product portfolio.
Given the current trends in the marketplace, including relatively high gas prices and the appeal of crossovers, the small crossover category will most likely continue to be a core part of the U.S. light truck market for years to come.
Posted by Tom Libby, PolkInsight Advisor, Polk (06.09.11)