2023 Full-Size SUVs: The Biggest Loser and Winner so Far This Year
The full-size SUV market isn’t as rich with options as the more flooded compact and midsize markets, but buyers seeking the most pragmatic haulers of their brood still have plenty of choice. And so far through 2023, one full-size SUV has shown to be a far more popular choice as of late, while another is seriously struggling to find buyers.
Toyota full-size SUV sales are booming in 2023
Toyota Sequoia sales were in a complete freefall in 2022. Toyota moved just over 5,300 units of its full-size SUV over the course of the year, a 34% decrease from the models’ 2021 sales. Though supply issues were undoubtedly a factor in the Sequoia’s dreadful sales, the model itself was completely outdated having not been notably updated in well over a decade.
But it appears the introduction of the 2023 Sequoia with a refreshed look, a hybrid-only powertrain, more technology and upgraded features has worked wonders to turn around the SUV’s fortunes.
According to Toyota’s third quarter sales, nearly 16,000 Sequoias were sold through the first nine months of 2023 alone. That’s over three times as many Sequoias sold so far this year than in all of 2022. Toyota reports that September was the best U.S. sales month and the highest year-to-date sales after Q3 in the model’s history.
The Sequoia may be one of the pricier, non-luxury full-size SUVs, and it’s not quite as practical as some of its competitors. Still, the newest generation is a massive leap forward for the model overall, and it’s the only standard hybrid full-size SUV available.
Couple these factors with the expected reliability and value proposition that comes with purchasing a Toyota, and it’s no surprise the revamped Sequoia is proving to be a sales success.
Meanwhile, the Jeep Wagoneer languishes
As sales of the Sequoia flourish, the Jeep Wagoneer is proving to be far less popular among buyers this year.
Wagoneer sales in September were down a staggering 44% from September 2022, continuing the SUV’s downward spiral for the year. Nearly 21,000 models have been sold this year through Q3, but that represents a 31% decrease in sales through the first nine months of 2022.
The Wagoneer’s sales plight seems to showcase the model is proving less popular among buyers since making its debut for the 2022 model year. One factor that could be limiting the Wagoneer’s popularity is its price.
Though it features legitimate off-road chops and a pragmatic interior, the 2023 Wagoneer’s $61,595 MSRP is well above the base price of many of its competitors. The Sequoia, Chevrolet Tahoe, GMC Yukon, Chevrolet Suburban, and Ford Expedition all cost several thousand dollars less.
While speculatory, the glimmer of the all-new Wagoneer may have lost some of its luster since the model was introduced, and fewer buyers were willing to dish out for its premium price tag.
The Wagoneer’s more luxurious stablemate, the Grand Wagoneer, is also having a “down” sales year, but not to the same extent. Annual Grand Wagoneer sales are down 14% through Q3 this year, however, a 22% increase in September sales year-over-year padded its fall.