Large Cars - Argentina

Argentina

Highlights

Revenue in the Large Cars market is projected to reach US$8bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 55.81%, resulting in a projected market volume of US$69bn by 2029.
Large Cars market unit sales are expected to reach 207.3k vehicles in 2029.
The volume weighted average price of Large Cars market in 2024 is expected to amount to US$110k.
From an international perspective it is shown that the most revenue will be generated China (US$106bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Large Cars market in Argentina has been experiencing significant growth in recent years. Customer preferences in the Large Cars market have shifted towards vehicles that offer both comfort and performance.

Consumers in Argentina are looking for cars that provide a smooth and comfortable ride, while also delivering power and speed. This is reflected in the increasing demand for large cars with powerful engines and advanced suspension systems. Additionally, customers are placing a greater emphasis on safety features, such as advanced driver-assistance systems and collision avoidance technology.

Trends in the market show that large car sales have been steadily increasing in Argentina. This can be attributed to several factors. Firstly, the improving economic conditions in the country have led to an increase in disposable income, allowing consumers to afford larger and more luxurious vehicles.

Additionally, the availability of attractive financing options and low interest rates have made it easier for consumers to purchase large cars. Furthermore, the expanding middle class in Argentina has also contributed to the growth of the large car market, as more individuals are able to afford these vehicles. Local special circumstances in Argentina have also played a role in the development of the Large Cars market.

The country has a strong automotive manufacturing industry, with several domestic and international car manufacturers operating production plants in Argentina. This has led to a wide range of large car models being available in the market, catering to different customer preferences and budgets. Additionally, the government has implemented policies to promote the production and sale of large cars, such as tax incentives and subsidies.

These measures have further stimulated the growth of the market. Underlying macroeconomic factors have also influenced the development of the Large Cars market in Argentina. The country's GDP growth and low inflation rate have contributed to increased consumer confidence and spending power.

Additionally, the stability of the Argentine peso and favorable exchange rates have made it more affordable for consumers to purchase large cars. Furthermore, the government's focus on infrastructure development, including the improvement of road networks, has made driving large cars a more viable option for consumers. In conclusion, the Large Cars market in Argentina is experiencing growth due to changing customer preferences, improving economic conditions, local special circumstances, and underlying macroeconomic factors.

The demand for large cars is expected to continue to rise as consumers seek vehicles that offer both comfort and performance.

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).