Large Cars - Mauritius

  • Mauritius
  • Revenue in the Large Cars market is projected to reach US$21m 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$21m by 2029.
  • Large Cars market unit sales are expected to reach 526.0vehicles 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 in China (US$106,200m in 2024).

Key regions: Worldwide, China, India, Germany, Europe

 
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Analyst Opinion

The Large Cars market in Mauritius has experienced significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.

Customer preferences:
Mauritian consumers have shown a growing preference for large cars due to their spaciousness, comfort, and prestige. Large cars are often seen as a symbol of status and success, and many consumers aspire to own them. Additionally, large cars offer a higher level of safety and security compared to smaller vehicles, which is an important consideration for Mauritian families.

Trends in the market:
One of the key trends in the Large Cars market in Mauritius is the increasing demand for SUVs. SUVs offer a combination of style, practicality, and versatility, making them popular among Mauritian consumers. The ruggedness and off-road capabilities of SUVs also appeal to those who enjoy outdoor activities such as camping and hiking. Furthermore, SUVs are often perceived as more fuel-efficient compared to traditional large sedans, which is an important consideration given the rising fuel prices in Mauritius. Another trend in the market is the growing popularity of electric and hybrid large cars. As sustainability becomes a global priority, more consumers in Mauritius are opting for environmentally friendly vehicles. Electric and hybrid large cars offer lower emissions and reduced fuel consumption, making them an attractive option for environmentally conscious consumers. Additionally, the government of Mauritius has implemented various incentives and subsidies to promote the adoption of electric and hybrid vehicles, further driving the demand for these types of cars in the market.

Local special circumstances:
One of the key factors contributing to the growth of the Large Cars market in Mauritius is the country's strong economy. Mauritius has experienced steady economic growth over the years, resulting in an increase in disposable income and purchasing power among consumers. This has allowed more individuals and families to afford large cars, driving the demand in the market. Furthermore, the infrastructure in Mauritius is well-suited for large cars. The road network is well-maintained and offers wide, open spaces, allowing for comfortable and convenient driving experiences. This makes large cars a practical choice for Mauritian consumers, further fueling the market growth.

Underlying macroeconomic factors:
Several macroeconomic factors have contributed to the development of the Large Cars market in Mauritius. The stable political environment and favorable business climate in the country have attracted foreign investments, leading to job creation and higher incomes. This has had a positive impact on consumer spending and the demand for large cars. Additionally, the tourism industry in Mauritius has been thriving, attracting a large number of high-net-worth individuals and expatriates. These individuals often have a preference for large cars, contributing to the growth of the market. The tourism sector has also led to an increase in rental car services, further driving the demand for large cars in the market. In conclusion, the Large Cars market in Mauritius has experienced significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The preference for large cars, particularly SUVs and electric/hybrid vehicles, combined with the strong economy and favorable infrastructure, has fueled the growth of the market.

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).

Overview

  • Unit Sales
  • Analyst Opinion
  • Technical Specifications
  • Revenue
  • Price
  • Global Comparison
  • Methodology
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