Customer Logins
Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
Customer LoginsNew vehicle registrations show record share levels for SUVs
It's well known that there's been an ongoing shift in US consumer preferences toward sport utility vehicles; however, what may not be as widely recognized is the magnitude of this change so far this year. A recent analysis of IHS Markit new vehicle registrations through July, 2020 (the most recent available) finds sport utilities account for 50% of all new vehicle registrations, up from 31% ten years ago (a 61% increase). If today's mix continues for the remainder of 2020, it would mean not only that every other US buyer is acquiring an SUV, but it also would mark the first time since 1987 that one body style has captured half of the U.S. new vehicle industry (IHS Markit data available for this analysis is only available through 1987).
This movement toward sport utilities is more acute in the luxury
space where SUV share currently stands at 64%. Together with sedans
(with a share of 27%), these two body styles account for 91% of all
new luxury vehicle deliveries. The lack of pickups in the luxury
space by default drives up the shares of other body styles.
Market share for mainstream pickups has also grown, driven in part
by intense competition among the domestic manufacturers that
dominate this space. Through July, pickups account for 19.9% of new
vehicle registrations in the US, outpacing sedans for the first
time in recent history. Half-ton full-size pickup share has grown
from 8.8% in 2014 to 11.6% July 2020 CYTD, and three
quarter/one-ton full-size pickup share has increased from 3.3% to
4.1% over the same timeframe.
Midsize pickups, which typically do not garner as much publicity as
their larger stable mates, have experienced tremendous growth since
2014, with their share more than doubling from 1.5% to 4.2%. The
recent re-entry of Ranger has increased interest in this category
and provided another challenge to the ubiquitous Tacoma.
Sedans continue to lose ground. From their peak of 44.8% of the
market in 1991, sedan share has plunged to just 19.2% through July,
the lowest share for the segment since 1987.
With SUV/CUVs and pickups now accounting for more than two thirds
of all US new vehicle registrations, while some OEMs have made
their move to align portfolios, the real question is if we start to
see others follow suit as we also anticipate future trends
including inevitable fragmentation within these categories.
Note: Data are based on IHS Markit total new light vehicle registrations, including analysis of data from our historic archives dating to 1987 and current insight from January 2010-July, 2020, available through Catalyst for Insight, a market reporting solution from IHS Markit. Learn more about our market reporting solutions.