Executive Cars - Mozambique

Mozambique

Revenue in the Executive Cars market is projected to reach US$3m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.50%, resulting in a projected market volume of US$3m by 2029.
Executive Cars market unit sales are expected to reach 57.0vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$52k.
From an international perspective it is shown that the most revenue will be generated in China (US$63,010m in 2024).

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

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Analyst Opinion

The Executive Cars market in Mozambique has been experiencing significant growth in recent years.

Customer preferences: Customers in Mozambique have shown a strong preference for executive cars due to their luxurious features and high performance. These cars are often seen as a symbol of status and success, and customers are willing to invest in them to make a statement. Additionally, executive cars offer a comfortable and smooth driving experience, which is highly valued by customers in Mozambique.

Trends in the market: One of the key trends in the Executive Cars market in Mozambique is the increasing demand for electric and hybrid executive cars. As global awareness about climate change and environmental sustainability grows, customers in Mozambique are also becoming more conscious of their carbon footprint. They are looking for greener alternatives in the form of electric and hybrid cars, which offer lower emissions and better fuel efficiency. This trend is expected to continue as the government of Mozambique promotes sustainable development and encourages the use of electric vehicles. Another trend in the market is the rising popularity of SUVs in Mozambique. SUVs offer a combination of luxury, comfort, and practicality, making them a preferred choice for customers in Mozambique. These vehicles are well-suited for the country's diverse terrain and provide ample space for both passengers and cargo. The demand for SUVs is expected to remain strong in the coming years, driven by the growing urbanization and increasing disposable income of the population.

Local special circumstances: Mozambique is a country with a growing middle class and a rapidly developing economy. This has led to an increase in disposable income and purchasing power among the population. As a result, more people are able to afford executive cars, leading to a higher demand in the market. Additionally, the government of Mozambique has implemented policies to attract foreign investment and promote economic growth, which has further boosted the overall economy and contributed to the growth of the Executive Cars market.

Underlying macroeconomic factors: The Executive Cars market in Mozambique is influenced by various macroeconomic factors. One of the key factors is the overall economic growth of the country. As the economy expands, more people have the financial means to purchase executive cars. Additionally, favorable government policies and regulations, such as tax incentives and subsidies for electric vehicles, can also impact the market. Lastly, global trends and developments in the automotive industry, such as advancements in technology and design, can influence customer preferences and drive the growth of the Executive Cars market in Mozambique.

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).