Ford plans to launch four new SUVs within the next four years, announced Mark LaNeve, Ford Motor Company vice president of Marketing, Sales and Service. Their identity and the timing of their release have yet to be specified, however.
Demand for these vehicles will likely continue to increase, especially from millennials and baby boomers — two age groups that represent 160 million people in the U.S.
“As members of the 80-million-strong millennial age group enter their prime child-rearing years, a leading indicator of more SUV sales, nearly 80 million aging baby boomers continue to prefer their SUVs,” said LaNeve. “It’s a demographic double whammy and it all points to one thing — more SUVs for the foreseeable future.”
Baby boomers, in particular, like SUVs because it’s generally easier to get in and out of a vehicle that sits higher off the ground than a passenger car. LaNeve also noted that many of them feel younger and more active driving an SUV.
Of course, the current low gas prices largely contribute to the growth in SUV sales.