Compact Cars and Crossovers - US - February 2014
“Compact cars and crossovers are getting unprecedented attention from desperate consumer groups who are looking for fuel efficient vehicles that are easy to navigate in a dense urban environment. New compact car and crossover intenders include wealthier Baby Boomers and growing Hispanic families. How to cater to this more diverse group of consumers will require creative messaging and new product introductions, such as three-row compact vehicles.”
– Colin Bird, Automotive Analyst
Some questions answered in this report include:
- How to court more Millennials into buying new compact cars and crossovers in spite of growing college debts and increased urbanization?
- How to cater small vehicles to a growing group of Baby Boomer purchasers without alienating Millennials?
- How to better cater to the burgeoning Hispanic car buying community?
The US new compact car and crossover market reached an estimated 5.4 million vehicle sales in 2013, and comprised about a third of all new car sales. As this market continues to outpace general growth in the new car market, manufacturers looking to keep up with the competition will need to focus more on this segment in the coming years. This report provides a detailed review of the compact car and compact crossover market in the US. It provides insight into the external and internal factors affecting compact car and compact crossover sales, ownership, and purchasing intent.
The report explores what consumers are looking for when purchasing a compact car and crossover, and it delves into what deters shoppers from considering compact vehicles, as well. The report also looks into the growing luxury aspect of compact sales, and details emerging subsegments of the small car space, including consideration among consumers for subcompact crossovers, subcompact cars, roadsters, and city cars.
This report builds on the analysis presented in Mintel’s Small Cars – US, September 2012.
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