Passenger Cars - Algeria | Statista Market Forecast

Revenue in the Passenger Cars market is projected to reach US$3.4bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.46%, resulting in a projected market volume of US$3.6bn by 2029.
The market's largest segment is Medium Cars with a projected market volume of US$914.7m in 2024.
Passenger Cars market unit sales are expected to reach 154.40k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$23.74k in 2024.
With a vehicle unit sales share of 18.1% in 2024, Peugeot is expected to have one of the highest market share in the selected region.
The value market share of the make Toyota in the selected region is expected to stand at 15.2% in 2024.
From an international perspective it is shown that the most revenue will be generated United States (US$605bn in 2024).

The Mobility Market specifically covers newly sold passenger cars, including small, medium, executive, and luxury cars as well as SUVs, minivans, and sports cars. However, motorcycles, buses, trucks, large vans, and light utility vehicles are not included. The market's segmentation is based on several factors, including physical properties (weight, volume, wheelbase) and economic factors (pricing, status, etc.). All key figures shown represent the sales of new cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models. Importantly, our focus is solely on the market for newly sold cars, distinct from the broader category of registered cars.

The Passenger Cars market is divided into further markets for small cars, medium cars, executive cars, luxury cars, SUVs, minivans, and sports cars. Additionally, it delves into different car brands, offering a comprehensive view of the market.

Insights are centered on newly sold cars in standard configurations, excluding used vehicles and customizations. Reported statistics align with base vehicle configurations, ensuring a focused understanding of the dynamic passenger car market.

Newly Sold Passenger cars
Sports cars
SUVs
MPVs

Motorcycles, Buses and Trucks
Commercial Vans (included for the U.S. market only)
Pickup trucks (included for the U.S. market only)

The Passenger Cars market in Algeria has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Algeria have shifted towards more fuel-efficient and environmentally friendly vehicles.

This trend is in line with global market preferences, as consumers are becoming increasingly conscious of the environmental impact of their transportation choices. As a result, there has been a growing demand for hybrid and electric vehicles in Algeria. This shift in customer preferences is also influenced by government initiatives and incentives to promote sustainable transportation options.

Trends in the market indicate a growing demand for SUVs and crossover vehicles in Algeria. These larger vehicles offer more space and versatility, making them popular choices for families and individuals with active lifestyles. The increased popularity of SUVs and crossovers is a global trend, driven by factors such as improved fuel efficiency, advanced safety features, and enhanced technology options.

In Algeria, this trend is further fueled by the country's diverse terrain, which makes SUVs and crossovers well-suited for both urban and off-road driving. Local special circumstances in Algeria, such as a young and growing population, urbanization, and increasing disposable income, have contributed to the development of the Passenger Cars market. As more Algerians enter the middle class, there is a greater ability and desire to own private vehicles.

Additionally, the country's rapid urbanization has led to increased demand for personal transportation, as public transportation infrastructure may not be able to keep up with the growing population. Underlying macroeconomic factors have also played a role in the development of the Passenger Cars market in Algeria. The country's economic stability, favorable government policies, and investment in infrastructure have created a conducive environment for automotive manufacturers and dealers.

Furthermore, Algeria's strategic location as a gateway to the African market has attracted foreign automakers to establish production facilities and distribution networks in the country. In conclusion, the Passenger Cars market in Algeria is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards more fuel-efficient and environmentally friendly vehicles, the growing demand for SUVs and crossovers, the young and growing population, urbanization, increasing disposable income, and favorable macroeconomic conditions are all contributing to the growth of the market.

As these factors continue to drive the development of the Passenger Cars market, it is expected to further expand in the coming years.

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).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Is the global automotive industry experiencing an economic downturn? High inflation rates and raw material price increases recorded throughout 2022 and 2023 have challenged the industry, impacting consumers’ purchasing power and manufacturers’ production costs and profits. However, while global automobile sales slowed in 2022 due to the impact of the automotive semiconductor shortage, the market has been growing since the pandemic, and is forecast to move closer to its pre-pandemic level in 2023.