While CUVs and SUVs continue to dominate the market, sedans remain a popular choice among consumers.
According to Experian’s Automotive Consumer Trends Report: Q4 2024, sedans accounted for 18.4% of new retail registrations and 36.9% of used. Comparatively, CUVs/SUVs came in at 59.3% for new and 38.6% for used.
For retail sedan registrations, the Toyota Camry made up the most market share for both new and used in the last 12 months, coming in at 10.5% and 6.0%, respectively. Meanwhile, the Honda Civic came in a close second for new sedan registrations at 10.1% and the Honda Accord followed closely for used at 5.9%.
Knowing which sedan models are leading in registrations is important for professionals as it helps them understand evolving consumer preferences, enhance marketing strategies, and make informed inventory decisions.
Understanding the key generations fueling the sedan segment
When examining generational interest in this vehicle segment, data found Gen Z and Millennials over-indexed in new retail sedan registrations.
In the past 12 months, Gen Z represented 12.4% of new retail sedan registrations, while their total new retail registration was 8.2%. Millennials had 27.3% of sedan registrations out of 27% total registrations.
Understanding who is purchasing and what models they’re gravitating towards can unlock valuable insights as professionals craft their next move and position themselves one step ahead in a competitive market.
To learn more about sedan insights, view the full Automotive Consumer Trends Report: Q4 2024 presentation.
