Sports utility vehicle (SUVs) market continues to expand with Volkswagen AG launching Tiguan SUV, a mid-size SUV in the Indian market under its India 2.0 strategy

 


There are many reasons why someone might consider purchasing a sports utility vehicle. They are excellent for use on the road because of their reliability, ease of driving, and fuel efficiency. The popularity of Sports utility vehicle (SUVs) has increased significantly over the years. SUVs are far more spacious than compact cars and offer greater power, higher driving position, and improved protection. With the advent of impressive regular and compact SUVs in the recent past, the adoption of these vehicles is increasing rapidly. Recently, in April 2021, Dongfeng Peugeot launched a new range of SUVs featuring its new roaring Lion logo in the Chinese market. Thus, such factors can augment growth of the sports utility vehicle (SUVs) market.

Most all SUVs are equipped with a standard or unibody engine with an option of a dual-speed transmission. Some manufacturers also include a sport utility crossover, which is basically a two-door vehicle that is added onto the front of the main vehicle. The demand for premium vehicles has increased in developed countries. With rapid urbanization and growing disposable income, consumers are willing to spend more on premium vehicles, including sports utility vehicles. Modern SUVs and compact SUVs come with unique features including voice-control, autopilot, and dynamics airbags. Hence, such lucrative features can stimulate growth of the Sports utility vehicle (SUVs) market.

Recently, in March 2021, Volkswagen AG announced to launch Tiguan SUV, a mid-size SUV in the Indian market under its India 2.0 strategy.

As far as regional impact is concerned, North America seems to be exhibiting promising signs in the sports utility vehicle (SUVs) market. This is typically due to improving economic conditions and rapid growth of the automotive industry in the U.S. and Canada. On the contrary, emerging economies such as India and China witnessing high demand for SUVs due to rapid urbanization and increasing disposable income.

A sports utility vehicle or SUV is also a safe car class that combines components of other road-going vehicles, including lifted ground clearance, greater stability and four-wheel drive from more powerful off-road automobiles, including mud, dirt, snow, and sand. However, when shopping for a sports utility vehicle, it is important to understand the many options available and be educated about the many factors to consider before purchasing. Despite its advantageous features, there are certain challenges that can limit SUVs’ adoption. SUVs are significantly expensive as compared to compact cars. Besides, stringent regulations regarding fuel emission and rising fuel prices can impede growth of the Sports utility vehicle (SUVs) market.

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