SUVs have enjoyed a surge in popularity around the world in recent years. They constituted 48% of global car sales in 2023 and 55% of new electric vehicle (EV) registrations, according to the International Energy Agency. The reasons include a growing cultural preference for larger vehicles and an expansive footprint that allows for more batteries.
Increasingly, however, there is a risk of SUV market saturation. Some commentators highlight that differentiation is becoming paramount for brand success, and diverse vehicle shapes—enabled by advances in electric powertrain technology—could be about to make a comeback. But when even a single design can take years and millions of dollars to develop, the old tools used by engineers might not be enough.
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