A new Ford Motor Company survey shows SUVs are highly desired by Millennials – those aged 17-34 – indicating Europe’s SUV boom is poised to accelerate as the generation reaches prime new car buying age.
More so than other age groups, Millennials say SUVs make them feel powerful when they drive, are the kind of vehicle they want to be seen in and are more sporty and fun to drive than other vehicle types – according to top strategic research consultancy Benenson Strategy Group.
The Millennial generation is also more likely to consider it important that a car is perfect for an active lifestyle, with half believing this better describes SUVs than other types of vehicle.
“The survey makes two important points – the SUV boom in Europe is not a passing fad and young people are not as ambivalent about car ownership as some suggest – especially when it comes to SUVs,” said Roelant de Waard, vice president, Marketing, Sales and Service, Ford of Europe. “For both rational and emotional reasons, many younger buyers in Europe see SUVs as the perfect choice for them.”
Millennials account for 24 per cent of Europe’s adult population. The new survey shows one in four Millennials who intend to purchase a vehicle in the next year are considering an SUV.
Industry wide, SUV sales in Europe are expected to increase from 20 per cent of total passenger car sales in 2014 to 27 per cent by 2020, according to industry analyst IHS.
- 54 per cent of Millennials believe SUVs are better than any other type of car at going anywhere in city or countryside
- 52 per cent of Millennials believe SUVs are better at keeping them safe than other types of vehicle
- 84 per cent of Millennials believe SUVs have become more fuel efficient and environmentally friendly over the last five years
- 52 per cent of Millennials intending to buy an SUVconsider them the only type of vehicle that delivers toughness as well as lifestyle, rational and emotional appeal in a single package
“There is a trend for consumers to seek one-stop solutions – whether it is the smartphone in their pocket that can double as a camera, media player, and torch – or the car on their driveway that offers a fuel-efficient commute and a versatile, and dependable way to accommodate the family on its weekend adventures,” de Waard said.
Ford is showing the European-specification Ford Edge large SUV for the first time at Frankfurt Motor Show next week. Starting with the launch of the Edge early next year, Ford plans to introduce five new vehicles in the next three years that will compete in the SUV and crossover space. In addition Ford will introduce updated versions of the EcoSport small SUV and Kuga mid-sized SUV this year.
As a result, Ford is targeting sales of 200,000 SUVs in Europe by 2016 – a 200 per cent increase compared with 2013.