NEW YORK - Falling U.S. new vehicle sales through the rest of 2019 and into 2020 will bring more intense competition in the increasingly crowded market for SUVs and a continued decline in passenger car sales, executives and economists said at this week’s auto show in New York.
The new SUVs at this week’s auto show included models from Toyota Motor Corp, Ford Motor Co, Subaru Corp, Daimler AG’s Mercedes-Benz and Hyundai Motor Co. While those bigger vehicles are far more profitable for automakers, increased competition could lead to higher incentives in that segment that could squeeze profit margins just like with sedans over the years, industry officials said.
According to data from automotive consultancy LMC Automotive, by the year 2023 there will be 90 mainstream SUV and crossover models on the U.S. market, as well as 90 luxury models. Those numbers compare with 2017 levels of 65 mainstream SUV and crossover models and 53 luxury models.
I'm going to miss the internal combustion engine, we already lost manual transmissions for the most part here in the States.