IHS Markit is excited to attend MOVE this year. As the leading thought leader in automotive mobility, we are keen t… https://t.co/imEluizURo
Sedans: Staying Alive - no longer on top, but they're not dead
Sedans no longer on top, but they're not dead
In 2014, SUVs overtook Sedans as the best-selling body style, and as of 2020 have grown to 52% of the industry. But passenger cars overall still hold 25% of the industry, with Sedans at 18%. In 2020, over 2 million sedans were sold in the US. As many manufacturers discontinue sedans, it is critical to understand who the sedan buyers are in order to convert them to loyal SUV buyers or conquest them to new brands.
Top 25 DMAs have higher sedan loyalty than the national average
In 2020, the national average for sedan loyalty was 41.9%. However, when looking at the top 25 DMAs by volume, average sedan loyalty increased to 45.3%. Additionally, 13 of the top 25 DMAs over-indexed the nation, and 8 had sedan loyalty that exceeded both the national average and the Top 25 average sedan loyalty (Fig. 1). These DMAs include the top 2 DMAs by volume, New York and Los Angeles, as well as 4 DMAs in Florida. In fact, New York, LA, Miami and Palm Beach have sedan loyalty that exceeds 50%.
Multicultural buyers hold a higher share of sedans than the industry overall
Multicultural buyers make up only 29.6% of personal registrations (Fig. 2). However, when analyzing by body style, multicultural buyers hold a lower share of both SUVs and Pickups, with 27.1% and 23.9% share, respectively.
Read our full Automotive Advisory Insights from IHS Markit. The May 2021 issue focuses on sedans - trends, insights, and opportunities.
- Major revision for global light vehicle forecast, production impacted well into 2022
- Medium Heavy Commercial Vehicles: The other face of the pandemic in Brazil
- Fuel for Thought: A Rocky Recovery in the Second Year of the Pandemic
- Substantial Internal Cannibalization for Incremental Models
- IAA Mobility 2021: Germany’s new auto show to focus on electric autonomous vehicles and mobility
- Hybrid: Bridge to Electrification – August 2021
- How will 5G impact the driving experience for the consumer?
- Brand Loyalty Among US Auto Consumers Drops to Six-Year Low
Register now for our retail webinar: Improve your audience targeting with best practices. Learn data-driven strateg… https://t.co/uL60Sw4kJO
The IHS Markit light vehicle production forecast has been cut by 6.2% or 5.02M units in 2021, and by 9.3% or 8.45M… https://t.co/JK2K96SGi2