SUVs are expected to capture 50% market share soon: "Utility Vehicles are safer and trendy" the emotion has set and 31-32% of total passenger vehicle segment is SUVs. Last month, SUV's share was 40% and very soon hatchbacks will be sidelined. Invigorated by the looks, aside safety endorsement, gives SUV segment a fillip and urban cities are preferring SUVs to hatchbacks and Sedans. But currently in small cities still Sedan and hatchback prove to sell more.
A decade ago, a small car and hatchback caught 60-70% of the market. Now there is a gap of just 5% between the hatchback and SUVs, which is expected to further reduce to 2% by the end of this year, according to IHS Markit, the forecasting firm which closely monitors manufacturing activities across industries.
The growing preference of SUVs is due to its modern looks, safety and space with advanced technologies. SUV launches are also mushrooming with KIA Seltos, Hyundai Venue, MG Hector and Maruti XL-6. More than 36 launches are expected in other three years.