![]() “The working definition that we use is a utility vehicle that’s built on a car platform. “One thing we wanted to do here is define what constitutes a CUV, because it’s often a difficult question to answer,” Kennedy said. The research team also incorporated relevant third-party data on vehicle sales registrations and other market trends. To create the CUV report, SEMA Market Research mined its existing data from prior “State of the Industry” and market reports. All of that combined makes CUVs a big area of opportunity going forward, at least in the short term.” They’re using them more for utility aspects. We’re seeing people at least beginning to treat CUVs more like trucks. “With so many of these vehicles on the road-and representing nearly half of new-car sales and growing-this is an increasingly important space. “For the specialty-equipment industry, CUVs represent the biggest emerging trend right now,” added SEMA Director of Market Research Gavin Knapp. Our report is all about arming you with what you need to know.” But the industry still doesn’t really have, I think, a full understanding of what to do with them or how they fit into our world. In 2020, they comprised the second-biggest vehicle segment in terms of specialty-Įquipment sales. “CUVs represent the fastest-selling type of vehicle in the United States. “The reality is that if you’re in the truck market, you need to be paying attention to CUVs,” said SEMA Market Research Manager Matthew Kennedy, the report’s lead researcher. With many CUVs now outfitted with four-wheel drive, they are also growing in popularity with off-roaders. ![]() However, OEMs are increasingly building and marketing crossovers as utility vehicles. To help the specialty aftermarket make sense of the category and the growth potential it offers, SEMA Market Research recently released the new “CUV Market Snapshot-Emerging Opportunities” report-its first-ever study focused exclusively on crossovers.īuilt on car platforms but generally classified as light trucks, CUVs have traditionally been viewed as large, roomy cars. Today, CUVs are the most common vehicle type found on the road, accounting for 45% of automobiles sold in 2021. As such, it raised several questions: Could consumers ever embrace a vehicle whose purpose wasn’t clearly defined and whose styling, quite honestly, wasn’t all that exciting? And, if they did, how would they utilize such an oddity? As a commuter car? A grocery getter or cargo hauler? Some sort of neo station wagon or minivan?Īs it turned out, a truck-like vehicle built on a car platform proved to be just what consumers wanted for daily commutes, outdoor adventuring and everything in between. When the crossover utility vehicle (CUV) first appeared in the mid-’90s, it seemed like the push-me-pull-you of the automotive market-not quite car and not truly SUV. The Subaru Outback, which arguably set the stage for the crossover enthusiast craze in the ’90s, soldiers on in 2022 amid a growing market of off-pavement-capable competitors. RESEARCH SEMA Market Research Releases Its First-Ever CUV Report The “CUV Market Snapshot” Aims to Make Sense of a Diverse and Rapidly Growing Vehicle Category
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