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Large Cars - South Africa

South Africa
  • Revenue in the Large Cars market is projected to reach US$761m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.60%, resulting in a projected market volume of US$784m by 2029.
  • Large Cars market unit sales are expected to reach 18.8k vehicles in 2029.
  • The volume weighted average price of Large Cars market in 2024 is expected to amount to US$41k.
  • 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 South Africa has been experiencing significant development in recent years.

    Customer preferences:
    Customers in South Africa have shown a strong preference for large cars, particularly SUVs and luxury sedans. This can be attributed to several factors. Firstly, the growing middle class in the country has increased purchasing power and a desire for more spacious and comfortable vehicles. Additionally, the rugged terrain and long distances in South Africa make larger cars more practical and suitable for the local conditions.

    Trends in the market:
    One of the key trends in the Large Cars market in South Africa is the increasing demand for SUVs. SUVs offer a combination of power, versatility, and spaciousness, which resonates with the preferences of South African customers. This trend is in line with the global market, where SUVs have been gaining popularity. Another trend in the market is the growing demand for luxury sedans. As the economy in South Africa continues to grow, there is an increasing number of affluent individuals who are willing to invest in high-end vehicles that offer superior comfort and performance.

    Local special circumstances:
    South Africa has a unique set of circumstances that contribute to the development of the Large Cars market. Firstly, the country's infrastructure is well-suited for larger vehicles, with wide roads and ample parking space. This makes it easier for customers to navigate and park their large cars. Additionally, South Africa has a strong car culture, with many individuals valuing the status and prestige associated with owning a large car. This cultural aspect further drives the demand for large cars in the country.

    Underlying macroeconomic factors:
    Several macroeconomic factors have contributed to the development of the Large Cars market in South Africa. Firstly, the country has experienced steady economic growth in recent years, which has increased disposable incomes and consumer spending. This has allowed more people to afford large cars and has driven demand in the market. Additionally, low interest rates and favorable financing options have made it easier for customers to purchase large cars. Finally, the depreciation of the South African rand against major currencies has made imported luxury vehicles more affordable, further boosting the market. Overall, the Large Cars market in South Africa is experiencing significant development due to customer preferences for spacious and comfortable vehicles, the growing demand for SUVs and luxury sedans, local special circumstances such as infrastructure and car culture, and underlying macroeconomic factors such as economic growth and favorable financing options.

    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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