NEW YORK (Reuters) – Falling U.S. new vehicle sales through the rest of 2019 and into 2020 will bring more intense competition in the increasingly crowded market for SUVs and a continued decline in passenger car sales, executives and economists said at this week’s auto show in New York.
The 2020 Hyundai Venue is revealed at the 2019 New York International Auto Show in New York City, New York, U.S, April 17, 2019. REUTERS/Brendan McDermid
“There are more and more SUVs coming to market and I continue to see that market growing,” said Fred Diaz, U.S. chief executive of Japanese automaker Mitsubishi Motors Corp. “It’s hyper competitive.”
The new SUVs at this week’s auto show included models from Toyota Motor Corp, Ford Motor Co, Subaru Corp,