Executive Cars - Sweden

Sweden

Highlights

Revenue in the Executive Cars market is projected to reach US$1bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -2.48%, resulting in a projected market volume of US$996m by 2029.
Executive Cars market unit sales are expected to reach 17.2k vehicles in 2029.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$57k.
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 Sweden has experienced significant growth in recent years, driven by a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Sweden have shifted towards executive cars due to their high quality, advanced technology, and luxury features.

Swedish consumers value safety and reliability, and executive cars often meet these criteria. Additionally, executive cars are seen as a status symbol and a reflection of personal success, which appeals to Swedish consumers who prioritize style and prestige. Trends in the market have also contributed to the growth of the Executive Cars market in Sweden.

One major trend is the increasing demand for electric and hybrid executive cars. As Sweden aims to become a carbon-neutral country, there has been a strong push towards sustainable transportation. This has led to the development of electric and hybrid executive cars that offer both luxury and environmental benefits.

Swedish consumers are increasingly opting for these eco-friendly options, further driving the growth of the market. Another trend in the market is the rise of car-sharing and subscription services. Swedish consumers are embracing new mobility solutions that offer flexibility and convenience.

Car-sharing platforms and subscription services allow individuals to access executive cars without the long-term commitment of ownership. This trend has opened up the market to a wider range of consumers who may not have previously considered purchasing an executive car. Local special circumstances in Sweden have also played a role in the development of the Executive Cars market.

The country's high income levels and strong economy have created a favorable environment for luxury car sales. Additionally, the Swedish government offers incentives and tax breaks for electric and hybrid vehicles, further encouraging the adoption of executive cars in the market. Underlying macroeconomic factors have also contributed to the growth of the Executive Cars market in Sweden.

The country's stable economy and low unemployment rate have increased consumer confidence and purchasing power. This has allowed more individuals to afford executive cars and contributed to the overall growth of the market. In conclusion, the Executive Cars market in Sweden has experienced significant growth due to customer preferences for high quality and luxury vehicles, market trends such as the demand for electric and hybrid cars, local special circumstances including high income levels and government incentives, and underlying macroeconomic factors such as a stable economy and low unemployment rate.

These factors have combined to create a thriving market for executive cars in Sweden.

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).