The Small Cars Market segment includes economy passenger cars of an average footprint around 3.7m2 (40 ft2), an average mass around 1200kg (2680lbs) and a passenger/cargo volume between 2.4 m3 and 2.8 m3 (85 ft3 and 99 ft3). All key figures shown represent the sales of new small 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: Citroën C3, Ford Fiesta, Hyundai i30, Kia e-Soul, Lancia Ypsilon, Mazda 2, Nissan Note, Opel Corsa, Peugeot 208, Renault Clio, Seat Ibiza, Škoda Fabia, Suziki Swift, Toyota Yaris, Volkswagen Polo.
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 Small Cars market in Jamaica has been experiencing steady growth in recent years, driven by customer preferences for fuel-efficient and compact vehicles.
Customer preferences: Customers in Jamaica are increasingly opting for small cars due to their affordability, fuel efficiency, and ease of maneuverability in the country's congested urban areas. The rising cost of fuel has also contributed to the popularity of small cars, as they offer better mileage compared to larger vehicles. Additionally, small cars are often more affordable to purchase and maintain, making them an attractive option for budget-conscious consumers.
Trends in the market: One of the key trends in the Small Cars market in Jamaica is the increasing demand for electric and hybrid vehicles. As global concerns about climate change and environmental sustainability grow, consumers in Jamaica are becoming more conscious of their carbon footprint. Electric and hybrid small cars offer a greener alternative to traditional gasoline-powered vehicles, and their popularity is expected to continue rising in the coming years. Another trend in the market is the integration of advanced technology features in small cars. With the increasing demand for connectivity and convenience, automakers are incorporating features such as touchscreen infotainment systems, smartphone integration, and advanced safety features in their small car models. These technological advancements enhance the overall driving experience and appeal to tech-savvy consumers.
Local special circumstances: Jamaica's road infrastructure and traffic conditions play a significant role in the preference for small cars. The country's roads are often narrow and congested, especially in urban areas, making small cars more practical and easier to navigate through traffic. Additionally, parking spaces in urban centers can be limited, and small cars are more maneuverable in tight parking spots.
Underlying macroeconomic factors: The Small Cars market in Jamaica is also influenced by underlying macroeconomic factors. Economic stability and growth contribute to increased consumer confidence and purchasing power, enabling more people to afford small cars. Additionally, government policies and incentives, such as tax breaks and subsidies for electric vehicles, can further drive the demand for small cars. In conclusion, the Small Cars market in Jamaica is experiencing growth due to customer preferences for fuel-efficient and compact vehicles. The increasing demand for electric and hybrid cars, integration of advanced technology features, Jamaica's road infrastructure, and underlying macroeconomic factors all contribute to the development of the market.
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).