Anew study by IHS Markit found that two-thirds of SUV and Crossover Utility Vehicle (CUV) owners who bought another vehicle between January and April in the years since 2012 typically purchased another SUV or CUV. The pickup truck sector also enjoys strong loyalty among its owners – topping 50%.
Part of the reason for the growth in loyalty for bigger vehicles is the increase in SUV and pickup models for buyers to choose from. As more SUVs and pickups hit the road, more buyers consider them when it comes time to make a new vehicle purchase.
The IHS Markit study found that 48.6% of sedan owners remain loyal, the first time more than half of sedan buyers returning to the market have decided not to buy another sedan.
The shift in tastes for new vehicles is not surprising given the sales numbers through the first half of 2017. According to automotive research firm AutoData, car sales are down 11.4% this year, while SUV sales are up 7%.