Crossovers are Americans’ favorite type of passenger vehicle. This category accounts for over 45 percent of automobile sales in the United States as of June 2021. The most popular models include Honda’s CR-V, Nissan’s Rogue, and Toyota’s RAV4. In the first quarter of 2021, U.S. auto buyers bought over 114,200 units of Toyota’s RAV4 model, making it the best-selling vehicle in this category.
Toyota is the market leader
The RAV4 was one of the very first specimens of its kind, as production of this model began in 1994. Toyota was the most valuable SUV producer worldwide in 2019, with a brand value of just under 52.3 billion dollars. It was followed by Volkswagen, which was second in the ranking with a gap of over 10 billion dollars compared to the market leader. Toyota’s net revenue dropped to 27.21 trillion Japanese yen in 2021 (over 248.1 billion U.S. dollars as of August 2021 exchange rates), a visible dip of 8.9 percent compared to 2020, despite the manufacturer avoiding troubles related to a shortage of chips in early 2021.
Crossovers benefit from the shift away from sedans
Crossover SUVs (sport utility vehicles) manage to combine the good fuel efficiency levels of compact and midsized cars and the higher seating positions of light trucks. They gained in popularity when fuel prices were low and, consequently, automakers increased production volumes and model additions of this vehicle type. Between 2014 and 2020, U.S. car sales fell from over 7.7 million to around 3.4 million units. Concurrently, light truck sales increased from 8.7 million units in 2014 to more than 12 million units in 2019. The impact of the COVID-19 pandemic on vehicle demand led to a 9.6 percent drop of light truck sales in 2020. This drop in vehicle sales impacted countries across the globe. In 2020, Germany recorded a loss of over 140,000 sales of SUVs compared to 2019, whereas China’s new SUV registrations remained stable between the two years.
U.S. light vehicle market in June 2020 and 2021, by segment
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NADA. (July 6, 2021). U.S. light vehicle market in June 2020 and 2021, by segment [Graph]. In Statista. Retrieved January 17, 2022, from https://www.statista.com/statistics/276506/change-in-us-car-demand-by-vehicle-type/
NADA. "U.S. light vehicle market in June 2020 and 2021, by segment." Chart. July 6, 2021. Statista. Accessed January 17, 2022. https://www.statista.com/statistics/276506/change-in-us-car-demand-by-vehicle-type/
NADA. (2021). U.S. light vehicle market in June 2020 and 2021, by segment. Statista. Statista Inc.. Accessed: January 17, 2022. https://www.statista.com/statistics/276506/change-in-us-car-demand-by-vehicle-type/
NADA. "U.S. Light Vehicle Market in June 2020 and 2021, by Segment." Statista, Statista Inc., 6 Jul 2021, https://www.statista.com/statistics/276506/change-in-us-car-demand-by-vehicle-type/
NADA, U.S. light vehicle market in June 2020 and 2021, by segment Statista, https://www.statista.com/statistics/276506/change-in-us-car-demand-by-vehicle-type/ (last visited January 17, 2022)