Global Crossover Vehicles Market 2018-2022
About Crossover Vehicles
A crossover or crossover utility vehicle (CUV) is a vehicle that is built on a car’s unibody platform, which combines the various features of a sports utility vehicle (SUV) and a passenger car, typically sedans and hatchbacks.
Technavio’s analysts forecast the global crossover vehicles market to grow at a CAGR of 8.41% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global crossover vehicles market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Crossover Vehicles Market 2018-2022
Technavio recognizes the following companies as the key players in the global crossover vehicles market: Ford Motor Company, Honda Motor, Hyundai Motor, Renault, and Toyota Motor.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is automakers investing in adding new assemblies or manufacturing line for crossover production. The global crossover vehicles market is witnessing tremendous growth in the sales of crossovers. Globally, OEMs are facing challenges in selecting a new model in which they can invest to earn maximum benefits.”
According to the report, one driver in the market is high value for money. The global crossover vehicles market is witnessing the development of different segments of crossovers as they offer higher value of money to consumers. Crossovers offer benefits of sedans, such as fuel economy benefits and car-like ride and handling, and driving pleasure, safety, and comfort of an SUV. Crossovers are as safe and reliable as SUVs and are spacious.
Further, the report states that one challenge in the market is increasing cost pressure on OEMs. In China, the automobile industry has witnessed sudden growth in the sales of vehicles. This has created a situation of excess capacity as the OEMs try to compete to capitalize on the future market potential of China. This excess capacity, in addition to the introduction of new vehicles in key automotive segments, will continue to keep the pressure on OEMs ability to increase prices.
Ford Motor Company
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