Minivans - New Zealand

New Zealand

Highlights

Revenue in the Minivans market is projected to reach US$244m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.83%, resulting in a projected market volume of US$254m by 2029.
Minivans market unit sales are expected to reach 10.2k vehicles in 2029.
The volume weighted average price of Minivans market in 2024 is expected to amount to US$25k.
From an international perspective it is shown that the most revenue will be generated China (US$42bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Minivans market in New Zealand is experiencing steady growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Minivans market have shifted towards vehicles that offer both functionality and style.

Consumers in New Zealand are increasingly looking for minivans that provide ample space for passengers and cargo, while also offering modern features and a sleek design. This shift in preferences is driven by the desire for a versatile vehicle that can accommodate the needs of a growing family or serve as a multi-purpose vehicle for various activities. Trends in the market indicate that minivans are becoming more popular among families and individuals who prioritize comfort and convenience.

The spacious interiors and flexible seating arrangements of minivans make them an attractive option for families with children or individuals who frequently travel with large groups. Additionally, advancements in technology have led to the integration of various features such as touchscreen infotainment systems, advanced safety features, and connectivity options, further enhancing the appeal of minivans. Local special circumstances in New Zealand contribute to the development of the Minivans market.

The country's scenic landscapes and outdoor recreational activities make minivans a practical choice for individuals who enjoy exploring the outdoors. The spacious interiors and storage capacity of minivans allow for the transportation of equipment and gear, making them ideal for outdoor enthusiasts. Underlying macroeconomic factors also play a role in the growth of the Minivans market in New Zealand.

The country's steady economic growth and increasing disposable income levels have resulted in a higher demand for vehicles, including minivans. As consumers have more purchasing power, they are able to consider larger and more versatile vehicles such as minivans. In conclusion, the Minivans market in New Zealand is developing due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

The shift towards vehicles that offer functionality and style, the increasing popularity of minivans among families and individuals, the country's outdoor recreational activities, and the steady economic growth all contribute to the growth of the Minivans market in New Zealand.

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).