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Large Cars - Chile

Chile
  • Revenue in the Large Cars market is projected to reach US$621m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.66%, resulting in a projected market volume of US$642m by 2029.
  • Large Cars market unit sales are expected to reach 17.7k vehicles in 2029.
  • The volume weighted average price of Large Cars market in 2024 is expected to amount to US$36k.
  • From an international perspective it is shown that the most revenue will be generated China (US$106bn in 2024).

The Large Cars Market segment includes family passenger cars of an average footprint around 4.30m2 (46 ft2), an average mass around 1640kg (3620lbs) and a passenger/cargo volume between 3.1 m3 and 3.4 m3 (110 ft3 and 119 ft3). All key figures shown represent the sales of new large 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.

  • European Car Segment: D (Large Cars)
  • US Car Segment: Mid-size Cars
  • Chinese Car Segment: Category B
  • Also known as: Large Family Cars, Intermediate Cars, Compact Executive Cars, Entry-level Luxury Cars

Example models: Audi A4, BMW 3 Series, Citroën C5, Ford Mondeo, Honda Accord, Mazda 6, Mercedes-Benz C-Class, Opel Insignia, Opel Zafira, Škoda Superb, Subaru Forester, Subaru Outback, Toyota Avensis, Volkswagen Passat.

In-Scope

  • Family passenger cars - Large cars
  • Premium large cars

Out-Of-Scope

  • Large SUVs
  • Sports models
Large Cars: market data & analysis - Cover

Market Insights report

Large Cars: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Large Cars market in Chile has been experiencing steady growth in recent years.

    Customer preferences:
    Chilean customers have shown a strong preference for large cars, which can be attributed to several factors. Firstly, large cars are often associated with status and prestige, and owning a large car is seen as a symbol of success. Secondly, Chile's road infrastructure has improved significantly in recent years, making it more convenient and comfortable to drive larger vehicles. Finally, Chileans tend to have larger families and enjoy outdoor activities, which require more space and versatility that large cars can provide.

    Trends in the market:
    One of the noticeable trends in the Large Cars market in Chile is the increasing demand for SUVs. SUVs have become increasingly popular due to their versatility, spaciousness, and ability to handle different terrains. Chileans appreciate the higher driving position and the feeling of safety that SUVs offer. Additionally, SUVs often come with advanced technology features and luxurious interiors, which further attract customers. Another trend in the market is the growing interest in electric and hybrid large cars. As environmental concerns become more prominent, Chileans are becoming more conscious of their carbon footprint and are seeking eco-friendly alternatives. Electric and hybrid large cars offer lower emissions and better fuel efficiency, making them an appealing choice for environmentally conscious consumers.

    Local special circumstances:
    Chile's geographical landscape presents unique challenges and opportunities for the Large Cars market. The country has a diverse terrain, ranging from mountains to deserts to coastal regions. This diversity creates a demand for large cars that can handle different road conditions and provide a comfortable driving experience. Additionally, Chile's long coastline and proximity to outdoor recreational activities, such as skiing and hiking, contribute to the popularity of large cars among adventure-seeking Chileans.

    Underlying macroeconomic factors:
    Chile's stable economy and increasing disposable income have played a significant role in the growth of the Large Cars market. As the economy continues to grow, more Chileans have the means to purchase large cars and are willing to invest in vehicles that meet their preferences and needs. Additionally, favorable financing options and low interest rates have made it easier for consumers to afford large cars. In conclusion, the Large Cars market in Chile is experiencing growth due to customer preferences for status and versatility, the increasing demand for SUVs, the rising interest in electric and hybrid vehicles, the unique geographical landscape, and the country's stable economy. As these trends continue, the market is expected to expand further in the coming years.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    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).

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