America has long had a fascination with SUVs, and the popular rides have undergone a severe transformation over the past decade. Gas-guzzling behemoths used to own the road and occupied every inch of their lane — but not anymore. Those types of vehicles are mostly a thing of the past, and the most popular SUVs these days are smaller and can get upwards of 25 to 30 miles per gallon, making them a very popular ride. Let’s look at the cream of the crop in sales through July.
1. Ford Escape
Information via Automotive News DataCenter. 2013 Estimated using first half of annual sales.
Honda’s 2013 CR-V. Photo Courtesy of Honda Motor Company.
Honda’s CR-V comes in second by just a handful of vehicles, at about 173,000 vehicles sold through July. That’s only a 3.4% increase over last year, but it topped the U.S. News Rankings and Reviews list of “Affordable Compact SUVs.” The CR-V sells well because it offers a nimble ride with a roomy interior and impressive standard technology features. It also manages to get 23 mpg in the city and 31 on the highway. With a starting MSRP of around $23,000, it’s no surprise it’s a hot seller right now.
Chevrolet’s 2014 Equinox. Photo Courtesy of General Motors Company (NYSE:GM).
Rounding out the top three is the Chevy Equinox, which sold almost 145,000 vehicles and is up 10.8% compared to last year. It shouldn’t be surprising that two of the top three best-selling SUVs in 2013 are from Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM). Those two were kings of the gas-guzzling SUV versions and have learned something as consumer taste transitioned to a more fuel efficient ride. For its 2013 model it received a new 3.6L V6 engine and got suspension upgrades. It also has one of the industry best infotainment and navigation packages with the Chevy MyLink system.
The SUV segment is one of the hottest selling segments in the U.S. market and is a great way for companies to gain market share on their competitors. Not only are these vehicles valuable for market share, but fatter profit margins as well. Standard MSRP prices are higher than standard vehicles and with the extra space the interior can provide more options – bringing in extra dollars per transaction.