Europe: after mixed 2013, premium SUVs sales set to grow in 2014 image

According to analysts, while last year sent mixed results to the automakers, the segment’s growth toward the 1 million mark by 2020 would also trigger a rise in consumer demand for the premium SUV sub segment.

LMC Automotive forecasts that premium SUV sales – especially aided by the new additions in the compact and subcompact range – is set to recuperate its pace, after in 2012 it rose by 15% on strong demand for models like Audi’s Q3 or the Range Rover Evoque, but lost its “modjo” in 2013 and dipped slightly – by 5% – to 584,651 units.

“The strength that we have seen in the premium brand share [for SUVs] is set to continue to grow, helped by the ongoing proliferation of vehicle lineups from the key players,” said LMC’s head of sales forecasting in Europe, Jonathon Poskitt. “Manufacturers clearly see the potential for further growth in SUVs, as do we,” he added.

First and second placed Audi Q3 and BMW X1 were new additions to the segment, the first unveiled in 2011 and the second in 2009.

LMC forecasts the premium SUV’s segment share of the market would grow from 3.5% in 2013 to 4.7% by 2016, with automakers introducing a host of new models – like the Mercedes-Benz GLA, Porsche Macan, Maserati Levante, Lamborghini Urus, together with new high-end crossovers from Jaguar and Bentley.

Via Automotive News Europe