Sport utility vehicles are all but taking over the automotive market in the United States and the luxury segments are no exception. The Range Rover — which celebrated its 50-year anniversary in 2020 — is one of the originals. It continues to be a strong seller that commands a lot of respect.
But its ranks of competitors are growing.
It is fortunate for the Range Rover’s maker, Jaguar Land Rover. JLR has had its share of struggles throughout its history, including financial troubles, ownership changes, and recent difficulties adapting its Jaguar brand to a changing market.
But JLR’s Land Rover brand, specifically its Range Rover name, is in an ideal position.
That said, luxury brands from earlier eras that originated from sedans, wagons and sports cars are now churning out their own sport utility vehicles. Many of them lack the off-road capability and rugged bush-going heritage of Land Rover. The Range Rover and Range Rover Sport have a combined loyalty rate of more than 50%, according to J.D. Power data.
But there is more competition than ever.
While Range Rovers have a lot of heritage to lean on, it is always possible that consumers may become fatigued with the brand, or that something flashier comes around, said Tyson Jominy, J.D. Power’s vice president of data and analytics.
“But I’ve got to be honest, it’s really not materializing with the way consumers are behaving,” Jominy said.
Source : CNBC