- Sport utility vehicles (SUVs) are versatile automobiles designed to combine elements of on-road passenger vehicles with off-road capabilities. They are preferred for their spacious interiors, safety features, and performance on varied terrains
- The demand for SUVs is significantly driven by the growing consumer preference for multi-utility vehicles, increasing urbanization, and rising income levels across both developed and emerging economies
- The North America region stands out as one of the dominant regions for SUV sales, supported by high disposable income, preference for larger vehicles, and a strong automotive culture
- For instance, according to the U.S. Bureau of Economic Analysis, SUV sales accounted for over 50% of total light vehicle sales in the U.S. in 2024, highlighting the strong market presence and consumer preference for this vehicle category
- Globally, SUVs continue to gain traction across all price segments—from luxury to compact crossovers—making them one of the fastest-growing vehicle categories in the passenger car market
