Crossover Sales Soar
If you want to know why Jaguar and Lexus are introducing compact crossover concepts at the Frankfurt Auto Show this week, all you have to do is check the sales data. Crossover sales are soaring, particularly compacts. Last month, Toyota’s RAV4 was up 50% year to year, and the CR-V at Honda had its best sales month yet. Car sales in general are good in the United States right now, with overall August sales up 17%, but sales of smaller crossovers have doubled that and then some at 36%. Crossovers have gained market share for 10 straight months and now take just over a quarter of the total market, on a pace to sell about 4 million units this year. Overall crossover sales are up about 2% from last year, with compacts making most of that difference. As recently as 2007, crossovers only made up 15% of U.S. light vehicle sales. Pickup trucks are usually seen as America’s favorite vehicles, but in August crossovers outsold pickups by almost a 2 to 1 margin.
Ford and Honda hope to sell as many as 300,000 Escapes and CR-Vs and Toyota is looking at selling more than 200,000 RAV4s this year, which would be a record for that model. Escape sales were down 5% in August, which Ford attributed to short supplies.
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