Medium Cars - Americas

Americas

Revenue in the Medium Cars market is projected to reach €85,060m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 25.10%, resulting in a projected market volume of €260,600m by 2029.
Medium Cars market unit sales are expected to reach 3,933.0k vehicles in 2029.
The volume weighted average price of Medium Cars market in 2024 is expected to amount to €26k.
From an international perspective it is shown that the most revenue will be generated in China (€81,970m in 2024).

Key regions: India, United States, Germany, China, Europe

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Analyst Opinion

The Medium Cars market in Americas is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend.

Customer preferences in the Medium Cars market in Americas are shifting towards more fuel-efficient and environmentally friendly vehicles. With increasing concerns about climate change and rising fuel prices, customers are opting for medium cars that offer better fuel efficiency and lower emissions. Additionally, customers are also looking for cars that provide a comfortable and spacious interior, advanced safety features, and the latest technology.

Trends in the market show that medium cars are becoming more popular due to their versatility and affordability. Medium cars offer a balance between compact cars and larger sedans, providing ample space for passengers and cargo while still being easy to maneuver in urban areas. This makes them an attractive choice for families and individuals who value practicality and comfort.

Furthermore, the availability of a wide range of models and options in the medium car segment allows customers to choose a vehicle that suits their specific needs and preferences. Local special circumstances in the Americas also contribute to the growth of the Medium Cars market. In countries like the United States and Canada, where long distances and extensive road networks are common, medium cars are a popular choice for long commutes and road trips.

The spaciousness and comfort offered by medium cars make them ideal for these types of journeys. Additionally, the availability of a well-developed infrastructure, including a network of highways and gas stations, further supports the growth of the medium car market in the Americas. Underlying macroeconomic factors also play a role in the development of the Medium Cars market in the Americas.

Economic stability and rising disposable incomes in many countries in the region have increased consumer confidence and purchasing power. This has led to an increase in car sales, including medium cars. Furthermore, favorable financing options and low interest rates have made it easier for customers to afford medium cars, further driving the growth of the market.

In conclusion, the Medium Cars market in Americas is experiencing growth and development due to customer preferences for fuel-efficient and comfortable vehicles, trends towards versatility and affordability, local special circumstances such as long distances and well-developed infrastructure, and underlying macroeconomic factors including economic stability and rising disposable incomes. This positive trend is expected to continue in the coming years as customers continue to prioritize practicality, comfort, and environmental consciousness in their car purchasing decisions.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).