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Executive Cars - Argentina

Argentina
  • Revenue in the Executive Cars market is projected to reach US$6bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 56.59%, resulting in a projected market volume of US$53bn by 2029.
  • Executive Cars market unit sales are expected to reach 115.9k vehicles in 2029.
  • The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$151k.
  • From an international perspective it is shown that the most revenue will be generated China (US$63bn in 2024).

The Executive Cars Market segment includes passenger cars of an average footprint around 4.6m2 (50 ft2), an average mass around 1855kg (4100lbs) and a passenger/cargo volume larger than 3.4 m3 (120 ft3). Due to their high performance and comfort features, executive cars are often viewed as status symbols. Company cars account for a large share of the Executive Cars segment. All key figures shown represent the sales of new executive 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.

  • European Car Segment: E (Executive Cars)
  • US Car Segment: Large Cars
  • Chinese Car Segment: Category B
  • Also known as: Full-size Cars, Mid-size Luxury Cars

Example models: Audi A6, BMW 5 Series, Jaguar XF, Volvo S80.

In-Scope

  • Passenger cars - Executive cars
  • Premium executive cars

Out-Of-Scope

  • -
Executive Cars: market data & analysis - Cover

Market Insights report

Executive Cars: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Executive Cars market in Argentina has experienced significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

    Customer preferences:
    In Argentina, customers have shown a growing preference for executive cars due to their superior comfort, advanced technology, and luxurious features. These vehicles are often seen as a symbol of status and success, appealing to affluent individuals who value style and sophistication. Additionally, executive cars provide a smooth and comfortable ride, making them popular among those who prioritize comfort during their daily commutes or long-distance travels.

    Trends in the market:
    One major trend in the Executive Cars market in Argentina is the increasing demand for electric and hybrid models. As environmental concerns become more prominent, customers are seeking greener alternatives to traditional gasoline-powered vehicles. Electric and hybrid executive cars offer lower emissions and reduced fuel consumption, aligning with the growing focus on sustainability. Automakers have responded to this trend by introducing a wider range of electric and hybrid options in the market, catering to the evolving preferences of environmentally conscious customers. Another trend in the market is the integration of advanced technology features in executive cars. Customers now expect their vehicles to be equipped with the latest infotainment systems, advanced driver-assistance systems, and connectivity options. These features enhance the driving experience, provide convenience, and improve safety. Automakers are continuously innovating to meet these demands, offering cutting-edge technology in their executive car models.

    Local special circumstances:
    The Executive Cars market in Argentina has been positively influenced by various local special circumstances. Firstly, the country has a strong economy with a growing middle class, leading to increased purchasing power among consumers. This has allowed more individuals to afford executive cars, driving the demand in the market. Additionally, Argentina has a well-developed road infrastructure, making it conducive for executive car usage. The availability of high-quality roads and highways provides a smooth driving experience, further enhancing the appeal of executive cars.

    Underlying macroeconomic factors:
    Several underlying macroeconomic factors have contributed to the growth of the Executive Cars market in Argentina. Stable economic conditions, including low inflation and favorable interest rates, have encouraged consumer spending. This has resulted in increased sales of executive cars as consumers feel confident in making such high-value purchases. Furthermore, the government has implemented policies to support the automotive industry, such as tax incentives and subsidies for electric vehicles. These measures have stimulated demand and encouraged automakers to invest in the production of executive cars in Argentina. In conclusion, the Executive Cars market in Argentina has experienced growth due to changing customer preferences, including a shift towards electric and hybrid models, as well as the integration of advanced technology features. Local special circumstances, such as a strong economy and well-developed road infrastructure, have further fueled the market's expansion. Underlying macroeconomic factors, such as stable economic conditions and government support, have also played a significant role in driving the growth of the Executive Cars market in Argentina.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    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).

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