Passenger Cars - Fiji | Statista Market Forecast

Revenue in the Passenger Cars market is projected to reach US$32.4m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.69%, resulting in a projected market volume of US$33.6m by 2029.
The market's largest segment is SUVs with a projected market volume of US$12.2m in 2024.
Passenger Cars market unit sales are expected to reach 1.21k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$27.29k in 2024.
With a vehicle unit sales share of 26.3% in 2024, Toyota 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 27.6% 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 Fiji has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Fiji have shifted towards more fuel-efficient and environmentally friendly vehicles.

This can be attributed to increasing awareness of climate change and the need to reduce carbon emissions. As a result, there has been a growing demand for hybrid and electric vehicles in the country. Customers are also placing a greater emphasis on safety features, such as advanced driver assistance systems and collision avoidance technologies.

Trends in the market indicate a shift towards smaller, compact cars in Fiji. This can be attributed to the country's narrow and congested roads, where larger vehicles may be impractical. Additionally, the rising cost of fuel has led to a preference for cars with better fuel efficiency.

As a result, compact cars with smaller engines have become more popular among consumers. Local special circumstances in Fiji, such as the high import duties and taxes on vehicles, have also influenced the Passenger Cars market. These additional costs make car ownership more expensive, leading to a higher demand for used cars.

Many Fijians opt to purchase second-hand vehicles, as they offer a more affordable option compared to brand new cars. This has led to a thriving market for used cars in the country. Underlying macroeconomic factors have also played a role in the development of the Passenger Cars market in Fiji.

The country's strong economic growth and increasing disposable income have contributed to higher car ownership rates. As more Fijians have the financial means to purchase a car, the demand for passenger vehicles has increased. Additionally, the government's efforts to improve infrastructure, such as road networks and parking facilities, have made car ownership more convenient and attractive.

In conclusion, the Passenger Cars market in Fiji is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards fuel-efficient and compact cars, the demand for used vehicles, and the country's strong economic growth are all contributing to the development of the market. As Fiji continues to develop and modernize, the Passenger Cars market 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.