Large Cars - Tunisia

  • Tunisia
  • Revenue in the Large Cars market is projected to reach US$99m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.37%, resulting in a projected market volume of US$100m by 2029.
  • Large Cars market unit sales are expected to reach 2.8k vehicles in 2029.
  • The volume weighted average price of Large Cars market in 2024 is expected to amount to US$36k.
  • 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 Tunisia has been experiencing steady growth in recent years.

Customer preferences:
Tunisian consumers have shown a strong preference for large cars, which can be attributed to several factors. Firstly, large cars are often associated with prestige and status, and Tunisian consumers place a high value on these qualities. Additionally, large cars offer more space and comfort, which is particularly important for families or individuals who frequently travel long distances. Finally, large cars are often seen as safer and more reliable, which is a key consideration for Tunisian consumers.

Trends in the market:
One of the key trends in the Large Cars market in Tunisia is the increasing popularity of SUVs. SUVs offer a combination of space, comfort, and off-road capabilities, making them an attractive choice for Tunisian consumers. This trend is in line with the global market, where SUVs have been gaining popularity in recent years. Another trend in the market is the growing demand for electric and hybrid large cars. Tunisian consumers are becoming more conscious of the environmental impact of their vehicles, and electric and hybrid cars offer a more sustainable alternative to traditional gasoline-powered cars. This trend is also driven by government incentives and regulations promoting the use of electric and hybrid vehicles.

Local special circumstances:
One of the unique factors influencing the Large Cars market in Tunisia is the country's geographical landscape. Tunisia has diverse terrain, including mountains, deserts, and coastal areas. This creates a demand for large cars that are capable of handling different types of roads and terrains. Additionally, Tunisia experiences hot and dry summers, which can be challenging for vehicles. Large cars with advanced cooling systems and robust engines are preferred by Tunisian consumers to ensure optimal performance in these conditions.

Underlying macroeconomic factors:
The growth of the Large Cars market in Tunisia can be attributed to several underlying macroeconomic factors. Firstly, Tunisia has experienced a period of economic stability and growth in recent years, which has increased consumer purchasing power. This has allowed more Tunisian consumers to afford large cars. Additionally, the government has implemented policies to support the automotive industry, including tax incentives and subsidies. These policies have encouraged investment in the sector and have made large cars more affordable for Tunisian consumers. Finally, the availability of financing options, such as car loans, has also contributed to the growth of the Large Cars market in Tunisia, as it has made it easier for consumers to purchase large cars. In conclusion, the Large Cars market in Tunisia is experiencing steady growth, driven by customer preferences for prestige, comfort, and safety. The market is also influenced by global trends, such as the increasing popularity of SUVs and electric and hybrid cars. Local special circumstances, such as Tunisia's geographical landscape and climate, also play a role in shaping the market. Underlying macroeconomic factors, including economic stability, government support, and financing options, have further contributed to 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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