LONDON, March 1, 2016 /PRNewswire/ -- The aim of the research is to identify and understand the growth of subcompact SUVs and what this trend means for the industry on a global scale. This research aims to provide a detailed overview and strategic analysis of subcompact SUV and crossover market participants, models, and customers in different regions/geographies. A direction is provided in terms of forecasts and growth rates for subcompact SUVs and crossovers worldwide and key target regions. An insight on current and future technology trends targeted by this segment of vehicles is highlighted. Target customer types, demographic trends, OEM strategies, competitive benchmarking, competitive factors, market shares, and product portfolio analysis are captured in this research.
Executive Summary—Subcompact SUV Target Demographic
The target demographic is a young, educated, and entry-level customer with an active lifestyle.
Subcompact SUV and Crossover Market: Target Demographic, Global, 2014
-OEMs largely target the active lifestyle of consumers over others with subcompact SUVs.
-Many subcompact SUVs and crossovers are awaiting sales in both developed and emerging markets because of strong interest in these models among millennials.
-When making purchasing decisions, customers prefer an attractive design, combined with new powertrain technologies. This segment meets all the criteria in terms of innovation and investments currently by OEMs.
oStudents (high school and college)
-Bachelors and bachelorettes
-Couples without infants
-Drivers with a second vehicle with versatile capabilities
-Broad education background
-Condition applies at a global scale
-To attract millennials in the 18 to 36 year age group
-Customers perceived to be adventurous and urban dwellers and target safe, efficient, and optimally spacious vehicles
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