Large Cars - France

France

Highlights

Revenue in the Large Cars market is projected to reach US$11bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.50%, resulting in a projected market volume of US$12bn by 2029.
Large Cars market unit sales are expected to reach 312.0k vehicles in 2029.
The volume weighted average price of Large Cars market in 2024 is expected to amount to US$40k.
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 France has seen significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences for large cars have shifted towards vehicles that offer both luxury and fuel efficiency, as consumers become more conscious of environmental concerns.

Additionally, the French market has been influenced by local special circumstances, such as government incentives and regulations aimed at promoting electric and hybrid vehicles. These factors, along with underlying macroeconomic factors, have contributed to the development of the Large Cars market in France. Customer preferences in the Large Cars market in France have evolved to prioritize luxury and fuel efficiency.

Consumers are increasingly seeking large cars that offer a high level of comfort and luxury features, while also being environmentally friendly. This shift in preferences can be attributed to a growing awareness of the impact of carbon emissions on the environment. As a result, automakers have responded by introducing hybrid and electric models that combine luxury with fuel efficiency.

This trend has been further fueled by advancements in technology, which have made electric and hybrid vehicles more practical and accessible to consumers. In addition to changing customer preferences, the Large Cars market in France has been shaped by local special circumstances. The French government has implemented various incentives and regulations to encourage the adoption of electric and hybrid vehicles.

These include financial incentives such as subsidies and tax breaks, as well as the development of charging infrastructure. These measures have made electric and hybrid vehicles more attractive to consumers, leading to an increase in their sales. Furthermore, the French government has set ambitious targets for reducing carbon emissions, which has further incentivized the adoption of electric and hybrid vehicles.

Underlying macroeconomic factors have also played a role in the development of the Large Cars market in France. The French economy has experienced steady growth in recent years, which has increased consumer purchasing power. This has allowed consumers to afford larger, more luxurious vehicles.

Additionally, low interest rates have made it more affordable for consumers to finance the purchase of large cars. These macroeconomic factors have created a favorable environment for the growth of the Large Cars market in France. In conclusion, the Large Cars market in France has experienced growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors.

Consumers are increasingly seeking large cars that offer luxury and fuel efficiency, and automakers have responded by introducing hybrid and electric models. The French government has also implemented incentives and regulations to promote electric and hybrid vehicles, further driving the growth of the market. Additionally, favorable macroeconomic conditions have increased consumer purchasing power and made it more affordable to finance the purchase of large cars.

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).