Medium Cars - Mauritius

Mauritius

Highlights

Revenue in the Medium Cars market is projected to reach US$51m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.09%, resulting in a projected market volume of US$51m by 2029.
Medium Cars market unit sales are expected to reach 1.9k vehicles in 2029.
The volume weighted average price of Medium Cars market in 2024 is expected to amount to US$27k.
From an international perspective it is shown that the most revenue will be generated China (US$89bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Medium Cars market in Mauritius has been experiencing significant growth in recent years.

Customer preferences: Customers in Mauritius have shown a strong preference for medium-sized cars due to their practicality and affordability. Medium cars offer a good balance between fuel efficiency, interior space, and overall performance, making them a popular choice among Mauritian consumers. Additionally, medium cars often come with a range of advanced features and technologies, such as touchscreen infotainment systems and advanced safety features, which further attract customers in Mauritius.

Trends in the market: One of the key trends in the Medium Cars market in Mauritius is the increasing demand for electric and hybrid vehicles. As environmental concerns become more prominent, Mauritian consumers are becoming more conscious of their carbon footprint and are actively seeking greener alternatives. The government of Mauritius has also implemented various incentives and initiatives to promote the adoption of electric and hybrid vehicles, including tax exemptions and subsidies. This has led to a surge in the sales of electric and hybrid medium cars in the country. Another trend in the market is the growing popularity of SUV-inspired medium cars. Mauritian consumers are increasingly drawn to the rugged and sporty design of SUVs, and car manufacturers have responded by introducing medium-sized cars that combine the practicality of a sedan with the styling cues of an SUV. These vehicles offer higher ground clearance, larger cargo space, and a more commanding driving position, which appeal to customers in Mauritius who value versatility and a sense of adventure in their vehicles.

Local special circumstances: One of the unique aspects of the Medium Cars market in Mauritius is the influence of import regulations and taxes. The government of Mauritius imposes high import duties on vehicles, making them relatively expensive compared to other countries. However, there are certain exemptions and concessions for locally assembled vehicles, which has encouraged some car manufacturers to establish assembly plants in Mauritius. This has led to a wider availability of medium cars at more affordable prices, contributing to the growth of the market.

Underlying macroeconomic factors: The growth of the Medium Cars market in Mauritius can be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more people in Mauritius to afford medium-sized cars, driving up demand in the market. Furthermore, the government of Mauritius has implemented various infrastructure development projects, including the expansion of road networks and the improvement of public transportation systems. These initiatives have made car ownership more convenient and accessible, further fueling the growth of the Medium Cars market. In conclusion, the Medium Cars market in Mauritius is experiencing significant growth due to customer preferences for practical and affordable vehicles, the increasing demand for electric and hybrid cars, the popularity of SUV-inspired medium cars, local import regulations and taxes, and underlying macroeconomic factors such as economic growth and infrastructure development.

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).