Executive Cars - Southern Europe

Southern Europe

Highlights

Revenue in the Executive Cars market is projected to reach US$2bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.43%, resulting in a projected market volume of US$2bn by 2029.
Executive Cars market unit sales are expected to reach 27.4k vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$64k.
From an international perspective it is shown that the most revenue will be generated China (US$63bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Executive Cars market in Southern Europe has seen significant growth in recent years, driven by changing customer preferences and favorable local special circumstances. Customer preferences in the Executive Cars market have shifted towards more luxurious and high-performance vehicles.

Customers in Southern Europe are increasingly looking for cars that offer a combination of style, comfort, and advanced technology features. They are also placing a greater emphasis on fuel efficiency and environmental sustainability. As a result, there has been a rise in the demand for hybrid and electric executive cars in the region.

Trends in the market show that Southern European countries are experiencing an increase in the sales of Executive Cars. This can be attributed to several factors. Firstly, the improving economic conditions in the region have led to an increase in disposable income, allowing more consumers to afford executive cars.

Additionally, the growing number of successful entrepreneurs and professionals in Southern Europe has created a larger customer base for executive cars. Local special circumstances also play a role in the development of the Executive Cars market in Southern Europe. The region is known for its rich cultural heritage and appreciation for luxury and style.

This has influenced consumer preferences and led to a higher demand for prestigious brands in the executive car segment. Furthermore, Southern European countries have well-developed road infrastructure, which makes driving a pleasurable experience and encourages car ownership. Underlying macroeconomic factors have also contributed to the growth of the Executive Cars market in Southern Europe.

The region has experienced stable economic growth, low interest rates, and favorable financing options, which have made it easier for consumers to purchase executive cars. Additionally, government incentives and subsidies for electric vehicles have further boosted the demand for hybrid and electric executive cars in the region. In conclusion, the Executive Cars market in Southern Europe is developing due to changing customer preferences, favorable local special circumstances, and underlying macroeconomic factors.

The shift towards more luxurious and high-performance vehicles, along with the increasing demand for hybrid and electric cars, has driven the growth of the market. The region's cultural appreciation for luxury, well-developed road infrastructure, and stable economic conditions have also played a significant role in the development of the market.

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).