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The ongoing expansion of “lifestyle trucks” is expected to push the crew-cab segment to new record highs. Trucks are growing increasingly popular as an alternative to SUVs.With the departure of many car nameplates, SUV market share will cross 50% for the first time. Edmunds experts predict that market share for passenger vehicles will drop to 24% in 2020, which will translate to fewer cars sold than at the bottom of the recession. Car sales are expected to hit an all-time low.Edmunds analysts estimate that hybrid vehicles will grow by 18% in 2020, pushing the green-vehicle market to a record market share of 4.8%, compared to 4.3% in 2019. A resurgence of hybrid vehicles, particularly versions of the popular RAV-4, CR-V and Escape, will drive green-vehicle sales to record market share.Takes a deeper look into other major factors that will shape the industry The discontinuation of more affordable options like domestic passenger cars,Ĭould prompt shoppers to shift their focus to the used market – or delay their Options than ever before,” said Caldwell. Shoppers are opting for pricey SUVs and trucks packed with more high-tech According to Edmunds data, theĪverage transaction price (ATP) for a new vehicle in 2019 climbed to anĪll-time record of $37,183, and prices are only expected to keep rising. Present some roadblocks for the industry. To be in a healthy place this year, Edmunds analysts note that rising prices “Strong economic factors such as low unemployment and high consumer confidence are carrying over from last year, finance rates are expected to remain relatively stable and this is a presidential election year, which historically tends to correspond with a year-over-year lift in new-vehicle sales.” “The auto industry has some decent tailwinds heading into 2020,” said Jessica Caldwell, executive director of industry insights at Edmunds. Industry Trends Report, analysts are forecasting 17.1 million new vehicles willīe sold in 2020, matching last year’s tally and marking the sixth year in a row