The Mini Cars Market segment includes economy passenger cars of an average footprint around 3.35m2 (36 ft2), an average mass around 1000kg (2250lbs) and passenger/cargo volume less then 2.4m3 (around 85 ft3). Although it is considered the market with the lowest-priced models, prices in the Mini Cars segment are comparable to those of small cars. All key figures shown represent the sales of new mini 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.
Example models: Daihatsu Sirion, Fiat 500, Fiat Panda, Hyundai i10, Kia Picanto, Mini Cooper, Nissan Micra, Renault Twingo, Smart EQ fortwo.
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
The Mini Cars market in South Africa has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, and local special circumstances. Customer preferences in the Mini Cars market in South Africa have been shifting towards more fuel-efficient and compact vehicles.
This can be attributed to rising fuel prices and increasing awareness of environmental issues. Consumers are now looking for smaller cars that offer better fuel efficiency without compromising on performance or comfort. Additionally, there is a growing demand for technologically advanced features such as touchscreen infotainment systems, smartphone integration, and advanced safety features.
Trends in the market indicate a strong growth potential for Mini Cars in South Africa. The increasing urbanization and congestion in major cities have led to a higher demand for compact cars that are easier to maneuver and park in tight spaces. Furthermore, the rising cost of vehicle ownership, including insurance and maintenance, has made Mini Cars an attractive option for budget-conscious consumers.
The availability of a wide range of models and price points in the Mini Cars segment has also contributed to its popularity among South African consumers. Local special circumstances, such as the high import taxes and tariffs on larger vehicles, have further fueled the growth of the Mini Cars market in South Africa. These taxes make larger vehicles significantly more expensive, making Mini Cars a more affordable and practical choice for many consumers.
Additionally, the government's focus on reducing carbon emissions and promoting sustainable transportation has encouraged the adoption of smaller and more fuel-efficient vehicles. Underlying macroeconomic factors, such as the improving economic conditions and increasing disposable income, have also played a role in the development of the Mini Cars market in South Africa. As the economy grows, more consumers are able to afford a car, and the demand for affordable and efficient vehicles like Mini Cars is expected to continue to rise.
In conclusion, the Mini Cars market in South Africa is experiencing significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As consumers prioritize fuel efficiency, compactness, and affordability, the demand for Mini Cars is expected to continue to rise in the coming years.
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
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
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).