There’s A Market For Affordable Three-Row EV Crossovers, Study Finds

The people are clamoring for affordable three-row EV crossovers and three-row electric SUVs, according to a recent study – but at the moment, GM only has a pair of luxury three-row electric vehicles as part of its Cadillac brand, one priced at north of $75,000 starting MSRP, the other at more than $125,000.

According to the 2024 Future Vehicle Planner study by AutoPacific, close to 50 percent of respondents planning to buy an SUV in 2025, 2026 or 2027 would consider buying a three-row battery-electric model as their next vehicle.

The survey – which gathered information from approximately 14,000 consumers – also points to 8 percent of near-future crossover and SUV buyers as not only willing to consider an EV but will be actively looking for one. The study also notes that only seven models of three-row electric SUVs and crossovers are currently available, none of them GM models.

While the upcoming 2025 Cadillac Escalade IQ and 2026 Cadillac Vistiq might appear to fit the bill, another factor also appeared in the survey results. A whopping 59 percent of those seeking multi-row electric SUVs and crossovers want a model priced at less than $50,000. Both the Cadillac Escalade IQ, starting at $129,990 for the Luxury 1 trim, and the Cadillac Vistiq with a base MSRP of $78,790 for the entry-level Luxury, are far outside this affordable price range.

The study indicates an unaddressed segment of demand, for affordable three-row electric crossovers. The market share of three-row electric crossovers and SUVs is forecast to hit 13 percent by 2029. In fact, AutoPacific chief analyst and president Ed Kim points out “all-electric three-row SUVs and crossovers are set to become one of the most important growth segments in the EV space.”

This rapidly growing sector with few to no models in the desired price range begs the question of whether GM should seize the opportunity to build a Chevrolet or GMC branded three-row electric crossover in the Chevy Traverse and GMC Acadia size range. Such a vehicle could theoretically be underpinned by the GM BEV3 platform and draw motivation from the AWD powertrain used in the Chevy Blazer EV – capable of providing 300 horsepower and 355 pound-feet of torque.

The study shows the average customer for such a model would be “a married female Millennial parent living in a single-family home in the suburbs and driving less than 30 miles per day,” with a high interest in convenience and comfort features. These include front and rear charging pads, heated and ventilated front seats, and a hands-free power liftgate.

While there’s no indication GM is currently planning such a model, Ed Kim pointed out “there is a perfect storm of life stage needs and EV acceptance that will power consumer interest and sales in this rapidly emerging space.”