Analysts predicts the European sales for compact SUVs will surpass the 2 million mark by 2020, as it is still room for growth in the segment.
While Americans are in love with big SUVs and pick-ups, the Europeans prefer their cars to come into a slightly more compact shape. Still, small SUVs are in great demand in the region and sales have been growing for some years now. This upward trend is likely to keep its pace in the midterm. “What has surprised us is how robust the segment has been,” Nissan Europe Chairman Paul Willcox told Automotive News Europe. “Now everyone is coming in. The market will continue to grow.” Sales in the segment will be boosted by another 200,000 units this year to 1.9 million and will hit 2.2 million by 2020, analysts at IHS Automotive predict.
It is a very crowded and competitive market, with Nissan being the traditional leader of the segment, consistently selling over 200.000 units a year for the past 6 years. The market will definitely keep rising this year, as the next four contenders are pushing hard. Volkswagen Tiguan and Kia Sportage are prepared for a new generation, Hyundai replaced the ix35 with the Tucson in the second half of last year, while Ford Kuga is to receive a facelift. Renault also wants a piece of the pie and it is pushing hard by launching the all-new Kadjar in late 2015. By October, the Kadjar climbed on the second place of the compact SUV segment in France just five months after its sale started. Renault is expected to sell 134,000 Kadjars in Europe this year, according to an IHS forecast.
“Compact SUV sales are less affected by the premium brands because it is a massive growth segment and, put simply, there is room for everyone to claim a piece of the action at the moment,” IHS analyst Tim Urquhart told Automotive News Europe.
Via Automotive News Europe