SUVs: market data & analysis

Market Insights report

SUVs: market data & analysis

SUVs accounted for 43.2% of the worldwide market revenue in 2022. This is a 0.3% growth compared to market share in 2018. The highest revenue share of SUVs sales in 2022 were generated in Canada (56.2%) and South Africa (53.4%). The best-performing make in the SUVs segment in 2022 was Toyota (revenue of US$68.8 billion), followed by Ford (US$ 62.6 billion) and Honda (US$51.7 billion).

What's included?

  • Market and make overview and key facts
  • Performance analysis and comparison by regions
  • Performance analysis and comparison by key makes
  • Comparison of market and make growth and average prices

Table of contents

Starting from mid-2020s’, SUVs have been the most sold car class worldwide. The growth of this market is expected to continue in the future, due to the popularity of crossover vehicles.  

This Market segment includes light trucks, used as family vehicles of an average footprint around 4.45m2 (48ft2) and an average mass around 1890kg (4170lbs).

  • European Car Segment: J (Sport Utility Cars)
  • US Car Segment: Sport Utility Vehicles
  • Chinese Car Segment: Sport Utility Vehicles
  • Also known as: 4x4

Early SUVs originated form commercial repurposing of the military vehicles used around the Second World War, although those initial models were marketed as station wagons for over fifty years, before finally being called sport utility vehicles in the late 1980’s. In the USA, they rose to popularity in the end of the last century with two major factors influencing their increase in sales: firstly, EPA (United States Environmental Protection Agency) classified them as light trucks, changing how they are regulated in respect to fuel efficiency, and, secondly, American manufacturers, influenced by competitive prices of imported, smaller models, focused on a more profitable production of larger cars, driving prices of SUVs further down. After the financial crisis in the late 2000’s, sales of the SUVs recovered quickly and continued to rise, influencing many companies to redesign their models to suit this new market trend and making SUVs the fasted growing trend today.

Example Models: Daihatsu Terios, Kia Sorento, Kia Sportage, Land Rover Freelander, Mitsubishi Outlander, Peugeot 4007, Suzuki Grand Vitara.

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