By Kyle Cheng
The “SEMA Future Trends” Report includes economic and industry forecasts to provide readers the insights they need to help move their businesses into the future.
Newer vehicle platforms, such as crossover-utility vehicles (CUVs), are becoming increasingly popular. Many automakers are adjusting their lineups away from traditional sedans to account for this. Not only have SUVs, CUVs and pickups collectively outsold cars, but they also tend to be more profitable for auto manufacturers. By 2025, SEMA projects that 69% of all light vehicles sold will be classified as light trucks (pickup, SUV, CUV, van)—more than half of which will be from CUVs.
Many factors have contributed to this. Gasoline prices have remained low until recently, which has made fuel efficiency a smaller factor for purchasing. Moreover, a strong economy and relatively low interest rates on new car loans have encouraged people to spend more. Barring an economic downturn, expect CUV and light-truck sales to continue to rise over the coming years.
Want to learn more? Check out the new “SEMA Future Trends” Report. This report, published twice per year, includes economic and industry forecasts to give readers the insights they need to help move their businesses into the future.
To download, visit www.sema.org/research.