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 Malaysia has been experiencing significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Malaysia, there has been a shift in customer preferences towards smaller and more fuel-efficient cars. This can be attributed to several factors, including rising fuel prices, increasing awareness of environmental issues, and the need for compact vehicles in congested urban areas. Customers are now prioritizing affordability, fuel efficiency, and practicality when choosing a car, which has led to a surge in demand for small cars.
Trends in the market: One of the key trends in the Small Cars market in Malaysia is the introduction of electric and hybrid vehicles. With the government's push towards sustainable transportation and the availability of various incentives for electric vehicle adoption, more customers are considering these eco-friendly options. This trend is expected to continue as the infrastructure for electric vehicles improves and more models become available in the market. Another trend in the market is the increasing popularity of compact SUVs. These vehicles offer the benefits of both small cars and SUVs, providing a higher driving position, spacious interiors, and better ground clearance. The compact SUV segment has seen significant growth in Malaysia, appealing to customers who want a versatile and practical car without compromising on style and comfort.
Local special circumstances: Malaysia has a unique automotive landscape due to its National Automotive Policy (NAP), which promotes the development of the local automotive industry. As a result, there are several local car manufacturers that produce small cars specifically tailored to the Malaysian market. These locally-produced cars often offer competitive pricing, good fuel efficiency, and customization options, attracting a significant customer base.
Underlying macroeconomic factors: The economic stability and growing middle class in Malaysia have played a crucial role in the development of the Small Cars market. As disposable incomes rise, more individuals and families are able to afford cars, leading to increased demand. Additionally, the government's initiatives to improve public transportation infrastructure and reduce traffic congestion have also contributed to the growth of the Small Cars market, as customers seek more convenient and efficient modes of transportation. In conclusion, the Small Cars market in Malaysia is experiencing growth due to changing customer preferences towards smaller and more fuel-efficient vehicles, the introduction of electric and hybrid cars, the popularity of compact SUVs, local special circumstances such as the NAP, and underlying macroeconomic factors such as economic stability and government initiatives. These factors are expected to continue driving the growth of the Small Cars market in Malaysia 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).