1. Gas Prices
First and foremost, the thing that everyone worries about - gas prices. The price of gas has steadily increased over the past 5 years and even if it decreases, prices are still going to factor into your car buying process. The gas mileage difference is about 29 MPG for an average mid-size SUV vs. about 35 MPG for a midsize, non-hybrid sedan. This MPG difference would be about $1,000 per year.
2. New Car Models
The newer car models since 2023 have come a long way since the early 2000s. They look sleek, technology has advanced, and they are drawing a new level of respect. Sedans are directly competing with the SUV market with the bells and whistles that have dominated them in the past. The general consumer feedback is that car's new looks and new models are appealing to the masses.