Sales of full-sized SUVs in the US continue to outperform the overall market, down 10% in the first quarter of 2022. With production limited due to the microchip shortages, manufacturers are prioritizing high margin products. At just over 111,000 deliveries, large SUVs now make up 3.4% of the total US car market, up from 3.1% in Q1 of 2021. The class consolidates with the top-4 all improving their sales while six other nameplates see their sales drop by more than half. The top-4 is 100% General Motors, which improves its share of the class to 61.3%, up from 50.7% in the same period last year. The Chevrolet Tahoe holds on to the top spot with sales up 4%, but the GMC Yukon (including the XL) is up 15% and is now just 2,700 deliveries behind. The Chevrolet Suburban jumps onto the podium with sales up 11% while their luxury sibling Cadillac Escalade is up 7% to outsell the Ford Expedition. The Ford is knocked down 2 places into 5th with sales down 56% as the GM models are much fresher now. Newcomer Jeep Wagoneer lands at #6, while the Japanese are losing ground quickly with the Nissan Armada down 78%, the Toyota Sequoia down 79% just when an all new generation is arriving in showrooms and the Toyota Land Cruiser no longer available in North America.
Luxury full-sized SUVs are down 6% in Q1 of 2022, improving their share of the segment by 1.2 percentage points to 31.1%. The Cadillac Escalade outperforms the class and jumps into fourth place overall, byt the BMW X7 is the best performing nameplate in the class at +36%, leapfrogging its nemesis Mercedes-Benz GLS which is down 18%. The Range Rover is up 6% even though it’s at the end of its life cycle with a new generation due this year. The Jeep Grand Wagoneer lands at #10, outselling the Lincoln Navigator which is down 56%. The Infiniti QX80 loses three quarters of its sales but still sells almost double the figure of the Lexus LX, down 58%.
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