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US: Ford, Chevrolet lose buyers after abandoning small cars

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According to a media report, Ford and Chevrolet's decision to discontinue small cars has resulted in a loss in market share.

The report suggests that 9.1% of the car market accounts for compact cars. In contrast, SUVs account for 47.9%. However, many buyers of compact cars like the Ford Fusion and Chevrolet Cruze are moving to compact cars from other carmakers instead of large SUVs and pickup trucks.

It is said that 23% of Cruze owners and 31% of Focus owners bought a car from a competitor. Customers bought cars like the Hyundai Kona, Jeep Compass, Subaru Crosstrek, Toyota Corolla, Honda Civic and Kia Forte instead of large SUVs from Chevrolet and Ford. It is said that the Honda Civic and the Toyota Corolla have gained from customers trading in their Fords and Chevrolets.

Brand loyalty is also taking a hit. In 2016, it stood at 57% and 40% for Chevrolet and Ford respectively but it has now declined to 45% and 33%.

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