Automotive advancements are winning the week! Read why SUVs are starting to dominate the EV market and why it might be time for cars to make their comeback. Plus, are millennials the industry’s secret weapon?
FROM AUTOMOTIVE NEWS: A Closer Look at 2019 U.S. Auto Sales
Get down to the nitty gritty of last year’s numbers to see which manufacturers picked up higher market share, the top models that beat out their usual competition, which brand saw sales gains for 12 straight months, and more.
FROM THE WALL STREET JOURNAL: Auto Makers See SUVs, Trucks Charging Electric-Vehicle Sales
Manufacturers are playing into the recent SUV boom by turning even their most gas-guzzling models into EVs. Analysts predict 78 different battery-powered SUVs will hit the market before 2022, with the global market set to reach $225 million.
FROM WARDSAUTO: Cars Could Make Comeback in Tough Times
Analysts aren’t counting out cars just yet. With the rising cost of new vehicles reaching an average of $38,000, consumers might turn to more compact models as an affordable alternative while the economy fluctuates.
FROM BLOOMBERG BUSINESS: Millennials Could End up Being a Boon to the U.S. Auto Market
As the millennial generation starts to settle down, the U.S. population of licensed drivers is expected to reach 245 million by 2025. Analysts predict this demographic will be responsible for adding 3 million more vehicle sales per year.