DUBLIN, February 12, 2016 /PRNewswire/ --
The global four wheel drive vehicle market is to cross over 7 million unit sales by 2019, according to a recent report available from Research and Markets. The report notes that a rising demand for sports utility vehicles (SUVs) is driving growth in this market, and today the Ford Motor Company announced their intention to add four new nameplates for the global Ford SUV line-up over the next four years.
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The four new nameplates will be within SUV segments the company currently does not compete in, with Ford banking on global demand from millennials and baby boomers. Ford also believes that the improved fuel efficiency of their latest generation of SUVs is resulting in a more relaxed attitude towards fuel costs among consumers.
Indeed, a report noted that improved consumer sentiment will drive revenue growth in the US SUV and light truck manufacturing industry. A commitment to energy efficient vehicles ensures a healthy brand image for the automotive giant and continued sales.
A recent industry report highlighted global subcompact SUV market sales will reach 7.4 million units by 2022. Although Ford have not revealed which segments their four new SUV nameplates will be part of, it's possible that the company could be considering a new entry for the subcompact SUV market.
For further information on this topic, and a full list of all related documentation, please visit the Automotive section at http://www.researchandmarkets.com/rm/LMLQ.
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