SUVs have been consistently the fastest growing segment in the UK market for several years, according to the valuation company hpi.
Analyst Mark Bulmer said: "In 2008 SUV barely existed as a sector and annual sales volumes were around 161,000 vehicles within an industry totalling 2.1m, the SUV sector achieved 11.6% of the market share. Fast forward to 2017 and the SUV sector achieved sales of over 817,000 vehicles from a total car market of 2.5m achieving a massive 30.5% of the total market share.
"The growth of SUV sales in just 10 years is nothing short of staggering and it shows no signs of applying the brakes. 114 completely new models have been launched since 2015 with at least a further 20 expected within the next 12 months.
Bulmer claims makes and models "currently taking the market by storm" including the Alfa Romeo Stelvio, Citroen C3 Aircross VW T-ROK (sic; it's T-Roc), Jaguar E-Pace, KIA Stonic, Toyota C-HR, Peugeot 3008 and Volvo XC40.
He added: "Boasting practicality, presence and efficiency, SUVs are all the rage and clearly an increasingly popular choice with drivers.
"The SUV market has continued to boom and sector growth has been boosted by a strong consumer appetite. The huge choice of available models and all year round lifestyle appeal all serves to make the sector appealing to motorists and ensure the manufacturers are innovating to fuel demand. SUVs have become the vehicle of choice for families, easily meeting the demands of everyday family life.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"The SUV sector remains one of the most exciting vehicle sectors and manufacturers are putting a great deal of emphasis on design, styling and performance to capitalise on this continuous growth and it hasn't finished growing yet. We can expect to see plenty of new SUV models this year covering all sector sizes and electric, hybrid, petrol and diesel vehicles are needed to meet the requirements of a rapidly changing market."