The station wagon is the most well-rounded body style available. With the handling, performance, and efficiency of a sedan, and the utility of an SUV, the wagon offers the best of both worlds. Unfortunately, the wagon is a rare sight in the United States.
The SUV is the culprit of the wagon's demise. The SUV's immense size, rugged looks, and infrequently used off-road capabilities have made the wagon seem "un-cool." The general consumer prefers the SUV because of its more masculine style compared to the wagon's "soccer mom" connotation.
Truth is, there are some seriously cool wagons out there. For example, the Cadillac CTS-V Wagon. With a 556 HP Supercharged V-8, performance tuning, and an available manual transmission, this Caddy is not any average grocery getter. Way cooler than a similarly priced Lexus SUV! The Mercedes-Benz E63 AMG Wagon is another desirable wagon. Although it is an instrument for the Autobahn, it still has three rows and will swallow cargo. Unfortunately, the choice in America is limited though.
Europeans have recognized the advantages the touring (name for wagon in England) offers. In Europe, where space is limited and there is a tax on CO2 consumption, wagons are more popular than SUVs and even sell in really high volumes. As such, there are numerous choices. Many sedans have wagon variants offered. There are some very alluring vehicles available over there such as the Mercedes CLS Shooting Brake, and the Audi RS6 Avant.
A wagon's weight is nearly identical to its sedan counterpart and lower than that of a comparable SUV. This means it handles better, accelerates faster, and uses less fuel. Further, the lower ride height lowers the car's center of gravity, also improving handling. With seats that fold down, wagons are very versatile. Further, many have the same all/four wheel drive systems of their SUV siblings meaning it too can be used year round. No matter how compelling the argument is, the non-enthusiast's aesthetic and practicality perceptions have ultimately killed off the breed in America.