U.S. Light Vehicle Market to See More Product Launches in 2018
Jan. 10, 2017—Automakers are expected to launch about 75 new models in 2018; contrasting with about 53 in 2017 and an expected 56 in 2019, according to IHS Markit forecasts.
The new vehicles launched in 2018 are forecast to account for about 3.09 million units of volume in 2019—when each will have been on market for a full year.
The SUV bodytype (including both crossover and sport utility vehicles) will see the most activity in 2018, as was true in 2017 and is projected to remain true for the next several years.
Automakers continue to adjust their product offerings to be in better alignment with consumer demands.
In 2018, IHS Markit projects 45 percent of the expected 75 new-model introductions will center on SUV products.
Of the 34 SUVs forecast to see market launch in 2018, 18 are nameplates new to the market, while the other 16 are updates to known products (nameplates available for sale at least in 2016).
By comparison, 40 percent of the new model launches in 2017 were SUVs; 6 were new nameplates and 17 existing products took updates.
IHS Markit expects 21 percent of launch activity relative to sedan nameplates in 2018—14 existing and 2 additive products—up from 14 percent of 2017 launch activity. W
hile sedans continue to make up a significant volume in the market, activity is highly focused in the SUV space.