Large Cars - Chad | Statista Market Forecast

Large Cars - Chad

Chad

Highlights

Revenue in the Large Cars market is projected to reach US$14m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.21%, resulting in a projected market volume of US$15m by 2029.
Large Cars market unit sales are expected to reach 385.0vehicles in 2029.
The volume weighted average price of Large Cars market in 2024 is expected to amount to US$38k.
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 Chad has been experiencing significant growth in recent years. Customer preferences for larger vehicles, such as SUVs and pickup trucks, have been driving this trend.

Additionally, several local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in Chad have shifted towards larger cars due to a variety of reasons. Firstly, large cars are often seen as a status symbol, representing wealth and success.

As the country's economy has been growing steadily, more consumers are able to afford these vehicles and are eager to showcase their prosperity. Secondly, the challenging road conditions in Chad, particularly in rural areas, require vehicles that are capable of navigating rough terrain. Large cars, with their higher ground clearance and robust build, are better suited for these conditions compared to smaller vehicles.

In line with global trends, SUVs have gained significant popularity in the Large Cars market in Chad. The versatile nature of SUVs, which offer ample space for passengers and cargo, has made them a preferred choice for families and individuals alike. Additionally, the perception of safety and security associated with SUVs has further fueled their demand in the market.

Pickup trucks have also seen a surge in popularity, particularly among businesses and individuals involved in agriculture and construction. The ability to transport heavy loads and navigate challenging terrain makes pickup trucks a practical choice for many in Chad. Local special circumstances have played a role in the development of the Large Cars market in Chad.

The country's vast size and sparse population density make personal transportation a necessity for many individuals. Public transportation options are limited, especially in rural areas, making car ownership essential for accessing basic services and opportunities. This has created a strong demand for vehicles, including large cars, in the market.

Underlying macroeconomic factors have also contributed to the growth of the Large Cars market in Chad. The country's economy has been expanding due to increased investment in the oil and gas sector, as well as infrastructure development projects. This has led to a rise in disposable income and improved purchasing power among consumers.

As a result, more individuals are able to afford large cars and are willing to invest in these vehicles. In conclusion, the Large Cars market in Chad has experienced significant growth due to customer preferences for larger vehicles, such as SUVs and pickup trucks. The country's challenging road conditions and the desire for status and practicality have driven this trend.

Additionally, local special circumstances, such as limited public transportation options, and underlying macroeconomic factors, such as economic growth and increased disposable income, have contributed to 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).