SUVs are off-road vehicles designed with features like ground clearance, ruggedness, and four-wheel drive, making them durable in rough terrain. They offer benefits such as power, performance, cargo space, improved visibility, functionality, luxury, and safety, driving the growth of the SUV market.
The global SUV market is growing due to increasing concerns regarding safety. SUV vehicles come equipped with advanced safety features such as ADAS, ABS, and TPMS, which prevent accidents and provide maximum safety to drivers. Consumers are inclined towards adopting automobiles with safety features to avoid road accidents, leading to a rise in SUV market growth. Stringent legislation and policy frameworks by governments mandating the installation of safety equipment in automobiles are also contributing to this growth. Technologies like airbags and ABS offer efficient operation and improved safety, driving the growth of the SUV market.
Key Companies in the Sports Utility Vehicle Industry:
- Audi AG Corporation
Audi AG Corporation was established in 1899 and is headquartered in Ingolstadt, Germany. It operates in more than 100 countries and is engaged in automotive and sports vehicle manufacturing.
- Toyota Motor Corporation
Toyota Motor Corporation was established in 1937 and is headquartered in Toyota, Aichi, Japan. It operates in more than 170 countries and territories and is engaged in automotive manufacturing. In 2023, Toyota announced that it would start electric SUV production.
- Volkswagen AG
Volkswagen AG was established in 1937 and is headquartered in Wolfsburg, Germany. It operates in 27 countries and is engaged in manufacturing automotive, autonomous, and electric vehicles. In 2023, Volkswagen AG revealed its plans to launch a massive electric SUV.
- General Motors LLC
General Motors, LLC, was established in 1908 and is headquartered in Detroit, Michigan, United States. It operates in 30 countries and is engaged in various industries, including automotive, electric vehicles, information services, manufacturing, and transportation.
- Jaguar Land Rover Automotive PLC
Jaguar Land Rover Automotive PLC was established in 2008 and is headquartered in Whitley, Coventry, United Kingdom. It operates in 129 countries and is engaged in manufacturing luxury vehicles and sport utility vehicles.
- Rolls-Royce Motor Cars Limited
Rolls-Royce Motor Cars Limited was established in 1904 and is headquartered in Westhampnett, United Kingdom. It has operated as a wholly owned subsidiary of BMW AG since 2003 and is engaged in manufacturing luxury cars.
- Acura
Acura was established in 1986 and is headquartered in Minato City, Tokyo, Japan. It sells cars in the United States, Canada, Mexico, Panama, and Kuwait and is engaged in marketing luxury and performance automobiles.
Definition: A sports utility vehicle (SUV) is a high-riding vehicle with off-road capabilities designed for carrying passengers and cargo.
