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Large Cars - Malaysia

Malaysia
  • Revenue in the Large Cars market is projected to reach US$1bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.93%, resulting in a projected market volume of US$1bn by 2029.
  • Large Cars market unit sales are expected to reach 28.7k vehicles in 2029.
  • The volume weighted average price of Large Cars market in 2024 is expected to amount to US$47k.
  • 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 Malaysia has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

    Customer preferences:
    In Malaysia, customers have shown a growing preference for large cars due to their spaciousness, comfort, and advanced features. Large cars are particularly popular among families and individuals who value luxury and prestige. Additionally, the increasing number of dual-income households has led to a higher demand for large cars as a symbol of status and success.

    Trends in the market:
    One of the key trends in the Large Cars market in Malaysia is the shift towards more fuel-efficient and environmentally friendly vehicles. With rising concerns about climate change and the need to reduce carbon emissions, car manufacturers have been introducing hybrid and electric models in the large car segment. These vehicles offer lower fuel consumption and reduced environmental impact, making them attractive options for eco-conscious consumers. Another trend in the market is the integration of advanced technologies and connectivity features in large cars. Malaysian consumers are increasingly seeking vehicles that offer seamless integration with their smartphones, navigation systems, and entertainment options. Car manufacturers have responded to this trend by equipping their large cars with cutting-edge infotainment systems, voice recognition, and driver-assistance features.

    Local special circumstances:
    Malaysia has a unique set of circumstances that contribute to the growth of the Large Cars market. The country has a strong automotive industry with several local manufacturers producing large cars that cater to the specific needs and preferences of Malaysian consumers. These local manufacturers often offer competitive pricing and attractive financing options, making large cars more accessible to a wider range of customers. Additionally, the Malaysian government has implemented various policies and incentives to promote the adoption of large cars. These include tax exemptions, import duty reductions, and subsidies for hybrid and electric vehicles. Such measures have encouraged consumers to consider large cars as a viable option, further boosting the market growth.

    Underlying macroeconomic factors:
    The growth of the Large Cars market in Malaysia can also be attributed to underlying macroeconomic factors. The country has experienced steady economic growth, resulting in a rising middle class with higher disposable incomes. As a result, more Malaysians are able to afford large cars and are willing to invest in vehicles that offer comfort, safety, and advanced features. Furthermore, the availability of favorable financing options, such as low-interest rates and longer repayment periods, has made it easier for consumers to purchase large cars. This has contributed to the overall increase in demand for large cars in the Malaysian market. In conclusion, the Large Cars market in Malaysia is witnessing significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards fuel-efficient and technologically advanced vehicles, along with the unique circumstances in Malaysia, has created a favorable environment for the growth of the large car segment.

    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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