Passenger Cars - Republic of the Congo

Revenue in the Passenger Cars market is projected to reach US$115.5m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.00%, resulting in a projected market volume of US$121.3m by 2029.
The market's largest segment is SUVs with a projected market volume of US$39.5m in 2024.
Passenger Cars market unit sales are expected to reach 3.95k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$30.97k in 2024.
With a vehicle unit sales share of 22.1% in 2024, Hyundai is expected to have one of the highest market share in the selected region.
The value market share of the make BMW in the selected region is expected to stand at 27.7% in 2024.
From an international perspective it is shown that the most revenue will be generated United States (US$605bn in 2024).

The Mobility Market specifically covers newly sold passenger cars, including small, medium, executive, and luxury cars as well as SUVs, minivans, and sports cars. However, motorcycles, buses, trucks, large vans, and light utility vehicles are not included. The market's segmentation is based on several factors, including physical properties (weight, volume, wheelbase) and economic factors (pricing, status, etc.). All key figures shown represent the sales of new 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. Importantly, our focus is solely on the market for newly sold cars, distinct from the broader category of registered cars.

The Passenger Cars market is divided into further markets for small cars, medium cars, executive cars, luxury cars, SUVs, minivans, and sports cars. Additionally, it delves into different car brands, offering a comprehensive view of the market.

Insights are centered on newly sold cars in standard configurations, excluding used vehicles and customizations. Reported statistics align with base vehicle configurations, ensuring a focused understanding of the dynamic passenger car market.

Newly Sold Passenger cars
Sports cars
SUVs
MPVs

Motorcycles, Buses and Trucks
Commercial Vans (included for the U.S. market only)
Pickup trucks (included for the U.S. market only)

The Passenger Cars market in Republic of the Congo is experiencing significant growth and development.

Customer preferences: In recent years, there has been a growing demand for passenger cars in Republic of the Congo. This can be attributed to several factors, including increasing disposable income levels and a desire for personal transportation. Many consumers in the country see owning a car as a symbol of status and success. Additionally, the convenience and flexibility provided by passenger cars, such as the ability to travel long distances and carry large amounts of cargo, are highly valued by Congolese consumers.

Trends in the market: One of the key trends in the Passenger Cars market in Republic of the Congo is the increasing popularity of SUVs and crossover vehicles. These larger vehicles are favored by consumers due to their spacious interiors, ruggedness, and ability to handle various types of terrain. As the road infrastructure in the country continues to improve, more consumers are opting for SUVs as their preferred mode of transportation. Another trend in the market is the shift towards more fuel-efficient and environmentally friendly vehicles. With rising concerns about climate change and the need to reduce carbon emissions, there is a growing demand for hybrid and electric cars in Republic of the Congo. Consumers are becoming more conscious of the impact their vehicle choices have on the environment and are willing to invest in greener options.

Local special circumstances: The Passenger Cars market in Republic of the Congo is influenced by several local special circumstances. One of the main factors is the country's vast and diverse landscape, which includes both urban areas and rural regions. This diversity in terrain and infrastructure requirements has led to a demand for cars that can handle different road conditions, such as SUVs and off-road vehicles. Additionally, the government's efforts to improve the road infrastructure in the country have contributed to the growth of the Passenger Cars market. As more roads are built and existing ones are upgraded, the demand for passenger cars increases. This is particularly true in rural areas where access to transportation is limited.

Underlying macroeconomic factors: The growth and development of the Passenger Cars market in Republic of the Congo are also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income levels. As consumers have more money to spend, they are able to afford passenger cars and are more likely to make a purchase. Furthermore, the government has implemented policies to promote the automotive industry and attract foreign investment. This has led to the establishment of local assembly plants and the availability of a wider range of vehicles in the market. These factors have contributed to the growth and development of the Passenger Cars market in Republic of the Congo.

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).

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Is the global automotive industry experiencing an economic downturn? High inflation rates and raw material price increases recorded throughout 2022 and 2023 have challenged the industry, impacting consumers’ purchasing power and manufacturers’ production costs and profits. However, while global automobile sales slowed in 2022 due to the impact of the automotive semiconductor shortage, the market has been growing since the pandemic, and is forecast to move closer to its pre-pandemic level in 2023.