Utility share reaches new high, despite increasing gas
prices
The rise of the utility sector is no surprise. The trend started
nearly a decade ago and ramped up as gas prices plummeted from 2014
to 2016 (Fig. 1). Even as gas prices began to increase, utility
share continued to climb due to the introduction of smaller and
more fuel-efficient utility nameplates.
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Read our full US Automotive Advisory Insights from S&P
Global Mobility. Our May 2022 report on the US Market focuses on
the increasing gas prices and how consumers are moving to utility
vehicles.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
