Passenger Cars - Greece | Statista Market Forecast

Revenue in the Passenger Cars market is projected to reach US$3.0bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.72%, resulting in a projected market volume of US$3.3bn by 2029.
The market's largest segment is SUVs with a projected market volume of US$1.3bn in 2024.
Passenger Cars market unit sales are expected to reach 136.50k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$23.68k in 2024.
With a vehicle unit sales share of 9.7% in 2024, Peugeot is expected to have one of the highest market share in the selected region.
The value market share of the make Peugeot in the selected region is expected to stand at 8.5% 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 Greece has been experiencing significant growth in recent years. Customer preferences have shifted towards more fuel-efficient and environmentally friendly vehicles, leading to an increase in the demand for electric and hybrid cars.

In addition, the market has been influenced by local special circumstances such as government incentives and regulations that promote the adoption of electric vehicles. Customer preferences in the Greek Passenger Cars market have been evolving in line with global trends. Consumers are increasingly concerned about the environmental impact of their vehicles and are opting for more fuel-efficient and eco-friendly options.

This has led to a surge in the demand for electric and hybrid cars, which offer lower emissions and better fuel efficiency. Furthermore, customers are also looking for vehicles with advanced safety features and connectivity options, reflecting the growing importance of technology in the automotive industry. The trends in the Greek Passenger Cars market are also influenced by local special circumstances.

The Greek government has implemented various incentives and regulations to encourage the adoption of electric vehicles. These include tax benefits, subsidies, and free parking for electric cars. Such measures have contributed to the increased sales of electric vehicles in the country.

Additionally, the government has also set targets for reducing greenhouse gas emissions, which has further encouraged the shift towards electric and hybrid cars. Another factor that has contributed to the growth of the Passenger Cars market in Greece is the underlying macroeconomic factors. The country has experienced a period of economic recovery in recent years, with increasing disposable incomes and consumer confidence.

This has led to higher purchasing power and increased demand for passenger cars. Additionally, low interest rates and favorable financing options have made it easier for consumers to purchase new vehicles. In conclusion, the Passenger Cars market in Greece is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors.

The demand for fuel-efficient and eco-friendly vehicles, driven by environmental concerns, has led to an increase in the sales of electric and hybrid cars. Government incentives and regulations have further promoted the adoption of electric vehicles. The overall economic recovery and favorable financing options have also contributed to the growth 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).

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.