Sports Cars - Switzerland

Switzerland

Revenue in the Sports Cars market is projected to reach €321m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.52%, resulting in a projected market volume of €382m by 2029.
Sports Cars market unit sales are expected to reach 3,510.0vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to €114k.
From an international perspective it is shown that the most revenue will be generated in the United States (€18,750m in 2024).

Key regions: United Kingdom, Europe, United States, Germany, Worldwide

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Analyst Opinion

The Sports Cars market in Switzerland has been experiencing steady growth in recent years, driven by customer preferences for high-performance vehicles and the country's affluent population.

Customer preferences: Switzerland is known for its love of luxury and high-quality products, and this extends to the automotive industry. Swiss consumers have a strong preference for sports cars that offer both style and performance. They are willing to pay a premium for vehicles that combine cutting-edge technology, superior craftsmanship, and powerful engines. In addition, Swiss customers value exclusivity and are attracted to limited-edition models and rare collector's cars.

Trends in the market: One major trend in the Sports Cars market in Switzerland is the growing demand for electric and hybrid sports cars. As the country focuses on sustainability and reducing carbon emissions, more consumers are opting for eco-friendly vehicles. Manufacturers have responded to this trend by introducing electric and hybrid models that offer high performance while also being environmentally friendly. This shift towards greener options is expected to continue driving growth in the market. Another trend in the market is the increasing popularity of SUV sports cars. Swiss consumers are drawn to the versatility and practicality of SUVs, as they provide ample space for passengers and luggage while still offering the performance and style of a sports car. This trend reflects a broader global shift towards SUVs, which have become the preferred choice for many car buyers worldwide.

Local special circumstances: Switzerland's unique geography and road infrastructure also play a role in shaping the Sports Cars market. The country is known for its picturesque mountain roads and winding alpine passes, which provide an ideal backdrop for sports car enthusiasts. The Swiss road network is well-maintained and offers a wide range of driving experiences, from challenging mountain routes to smooth highways. This makes Switzerland an attractive destination for sports car owners and enthusiasts alike.

Underlying macroeconomic factors: Switzerland's strong economy and high per capita income contribute to the growth of the Sports Cars market. The country has a high concentration of wealthy individuals who have the purchasing power to afford luxury vehicles. Additionally, Switzerland's stable political and economic environment provides a favorable business climate for automotive manufacturers and dealerships. These factors, combined with the country's love for high-quality products, contribute to the continued growth of the Sports Cars market in Switzerland. In conclusion, the Sports Cars market in Switzerland is driven by customer preferences for high-performance vehicles, the growing demand for electric and hybrid models, and the popularity of SUV sports cars. The country's unique geography and road infrastructure, as well as its strong economy and high per capita income, further contribute to the market's growth. As Switzerland continues to prioritize sustainability and luxury, the Sports Cars market is expected to thrive in the coming years.

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).