Within the transportation sector, road transportation accounts for about 70% of CO2 emissions. Vehicle electrificat… https://t.co/Gi18TmP5rU
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.
- Near- and long-term challenges in the shift to electrification
- Automotive electrification and decarbonization: Shifting toward net-zero
- Fuel for Thought: Automotive Electrification and Decarbonization - Shifting gears towards Net-Zero
- Tesla Encounters Formidable Competition
- EV Charging Infrastructure Report and Forecast
- Updated Analysis on the EU Green Deal
- Powertrain market analysis for revised EU fleet emissions scenarios
- Impact of supplier issues on the North American truck production
July’s Newsletter: Road transport contributes 70-80% of CO2 emissions. Major markets will face challenges to meet t… https://t.co/YiN5tGxVi4