A few years ago it seemed like the auto industry was shifting away from SUVs to smaller and more fuel efficient cars. That has been true to some extent, but Ford just proved that SUVs aren’t dead. In fact, it plans to introduce four new models over the next four years, citing increased demand from millennials and boomers.
“Growth in SUV sales is expected to continue – not only in the United States, but around the world – and why Ford is adding four new SUVs in the next four years – all four in SUV segments in which the company does not currently compete,” Ford said this week. The company said baby boomers are used to driving SUVs and that they’ll probably continue to do so. And, among baby boomers that might have left for smaller cars, Ford expects those folks will return to driving an SUV. The company said this specific age group feels “younger and more active driving an SUV.”
Ford also attributed decreased gas prices to its plans. In places like the East Coast, where gas is now steadily under $2 a gallon, folks aren’t as afraid of driving larger vehicles that require a bit more gas than their smaller counterparts. Fuel efficiency in these larger cars has also improved so much that Ford believes “a potential rise in gas prices wouldn’t push consumers back to passenger cars.”
Ford didn’t name its new SUVs but said there will be four new nameplates in its family of cars.