More than 66% of U.S. residents who own SUVs or crossover vehicles and purchased another vehicle between January and April bought another SUV or crossover vehicle, according to business analyst IHS Markit. In 2012, 53% of SUV and crossover vehicle owners purchased another SUV or crossover vehicle.
Meanwhile, the percentage of sedan owners who purchased another sedan has fallen to 48.6%, from 56.2% in 2012. “If this trend continues through the rest of the year, this will mark the first year in which less than half of sedan households acquired another one when they returned to market,” according to IHS Markit. “In the first four months of 2017, two-thirds of sedan owners defected to an SUV/CUV — representing nearly 300,000 transactions.”
Also, pickup owners are purchasing more pickups, with 51% of the owners buying another pickup in the first four months of 2017. Low gas prices have led to the rise in loyalty to pickups, SUVs and crossovers.
The majority of sedan owners who switch to another body style are those who have only owned one sedan, according to IHS Markit. But those who have owned more than one of the same body style type are less likely to switch body styles. SUVs, pickups and sedans account for 85% of all new vehicle registrations in the United States, in the first four months of the year.