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Detroit’s Biggest Vehicle Exhibition Flaunts Luxury and Practicality
This private market insight captures the most informative and strategic content from the recently concluded 2016 North American International Auto Show. Considered to be the most important annual automotive event in North America, leading OEMs including Acura, Lincoln, and Honda displayed groundbreaking concepts and launched new vehicles. This insight focuses on the notable luxury, mainstream, and concept debuts, and discusses the prevailing themes of the auto show.
1 Luxury original equipment manufacturers (OEMs) are looking to boost sales in the large sedan space with several new vehicles being launched at the 2016 North American International Auto Show (NAIAS) in Detroit. Hyundai‘s new luxury brand, Genesis, is expected to launch 5 new models by 2020, starting with this year‘s G90. Ford‘s luxury brand, Lincoln, is introducing the all-new Continental to take on other OEM flagships.
2 Sales in the SUV, crossover, and pickup segments have been increasing year on year, especially due to lower fuel prices. Sales of the two most popular SUVs—the Honda CR-V and Toyota RAV4—increased more than % and %, respectively, over 2014. Ford had another remarkable year with its F-Series pickups selling more than units. OEMs are keen to cash in on this trend, as seen with the new Buick Envision crossover, Kia Telluride
concept SUV, and Honda‘s redesigned Ridgeline pickup.
3 Powertrain downsizing and electric vehicle technology are continuing OEM strategies to meet increasingly stringent emissions and fuel efficiency norms. The new Chevrolet Cruze hatchback and Bolt EV are examples of this trend. Concept vehicles including the Nissan IDS and VW Budd.e are also testament to the shift towards electrification.
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