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Large Cars - Japan

Japan
  • 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 -0.41%, resulting in a projected market volume of US$8bn by 2029.
  • Large Cars market unit sales are expected to reach 229.8k vehicles in 2029.
  • The volume weighted average price of Large Cars market in 2024 is expected to amount to US$34k.
  • 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 Japan has been experiencing steady growth over the past few years.

    Customer preferences:
    Japanese consumers have traditionally favored smaller, more fuel-efficient vehicles due to the limited space and high population density in urban areas. However, there has been a shift in customer preferences towards larger cars in recent years. This can be attributed to several factors. Firstly, the aging population in Japan has led to an increase in demand for larger vehicles that offer more space and comfort. Older consumers often prioritize comfort and ease of entry and exit, making large cars an attractive option. Additionally, there is a growing trend among younger consumers to prioritize style and luxury, which has contributed to the increased demand for large cars.

    Trends in the market:
    One of the key trends in the Large Cars market in Japan is the rise of hybrid and electric vehicles. The government has been actively promoting the adoption of eco-friendly vehicles through various incentives and subsidies. As a result, many automakers have introduced hybrid and electric models in the large car segment to cater to the growing demand for environmentally friendly vehicles. Another trend in the market is the increasing popularity of SUVs (Sport Utility Vehicles). SUVs offer a combination of spaciousness, versatility, and off-road capabilities, which appeals to a wide range of consumers. This trend is in line with the global shift towards SUVs in the automotive market.

    Local special circumstances:
    Japan is known for its unique road and parking conditions. The narrow streets and limited parking spaces in urban areas make it challenging to maneuver large vehicles. However, automakers have been addressing this challenge by designing large cars with advanced parking assist systems and compact dimensions. These features make it easier for drivers to navigate tight spaces and park their vehicles.

    Underlying macroeconomic factors:
    The Japanese economy has been experiencing slow but steady growth in recent years. This has had a positive impact on consumer confidence and disposable income, leading to increased spending on large cars. Additionally, low interest rates and favorable financing options have made it more affordable for consumers to purchase large cars. The government's efforts to stimulate domestic consumption have also contributed to the growth of the Large Cars market in Japan. In conclusion, the Large Cars market in Japan is experiencing growth due to changing customer preferences, including the demand for larger and more luxurious vehicles. The rise of hybrid and electric vehicles, as well as the popularity of SUVs, are key trends in the market. Special circumstances such as Japan's unique road and parking conditions have also influenced the design and features of large cars in the market. The underlying macroeconomic factors, including economic growth, low interest rates, and government initiatives, have further supported the growth of the market.

    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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