Report: Women Fueling Surge in Compact SUV Sales
Significant Growth in Segment Over Last Five Years
If you’re a regular visitor to TruckTrend.com, you’re no doubt familiar with the trend that the Top 10 best-selling SUVs are compact crossovers such as the Toyota RAV4, Honda CR-V, and Ford Escape. And according to a Bloomberg report, a significant and fast-growing percentage of compact crossovers are women. According to the report, from 2010 to 2015, mainstream small SUV sales among women rose 34 percent among women compared to 22 percent among men. In the smaller premium small SUV segment, which would include models such as the Range Rover Evoque, BMW X3, and Lincoln MKC, segment sales growth showed an astounding 177 percent gain among women.
The report further showed 40 percent of female carbuyers are unmarried, and a survey conducted among female car buyers in 2015 showed two-thirds of respondents stated the purchase decision was “entirely up to me.” Demographic trends such as women postponing having children and focusing on their education and professional career are manifesting themselves in women buyers purchasing better-equipped and more premium models. The combination of a higher ride height and better visibility, while still maintaining a reasonable size and competitive fuel economy, is thought to be a key driver of compact crossover sales overall, with those attributes being especially important to women.
Source: Bloomberg
