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Small Cars - Senegal

Senegal
  • Revenue in the Small Cars market is projected to reach US$20m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.40%, resulting in a projected market volume of US$20m by 2029.
  • Small Cars market unit sales are expected to reach 1.3k vehicles in 2029.
  • The volume weighted average price of Small Cars market in 2024 is expected to amount to US$16k.
  • From an international perspective it is shown that the most revenue will be generated China (US$13bn in 2024).

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.

  • European Car Segment: B (Small Cars)
  • US Car Segment: Subcompact Cars
  • Chinese Car Segment: Category A
  • Also known as: Light Cars, Superminis

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.

In-Scope

  • Economy passenger cars - Small Cars

Out-Of-Scope

  • Small SUVs
  • Sports models
Small Cars: market data & analysis - Cover

Market Insights report

Small Cars: market data & analysis

Study Details

    Unit Sales

    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

    Analyst Opinion

    The Small Cars market in Senegal 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:
    One of the main reasons for the growth of the Small Cars market in Senegal is the changing preferences of customers. With increasing urbanization and traffic congestion, customers are looking for smaller and more fuel-efficient vehicles that are easier to maneuver in city streets. Additionally, the rising cost of fuel has led customers to prioritize vehicles with better fuel economy. As a result, there has been a shift towards smaller cars that offer better fuel efficiency.

    Trends in the market:
    The Small Cars market in Senegal has also been influenced by global and regional trends. The growing popularity of electric and hybrid vehicles worldwide has had an impact on the market in Senegal as well. Customers are increasingly interested in environmentally friendly options and are willing to pay a premium for electric or hybrid small cars. This trend has been further supported by government incentives and initiatives to promote the adoption of electric vehicles.

    Local special circumstances:
    Senegal has a unique set of circumstances that have contributed to the growth of the Small Cars market. The country has a young and growing population, with a significant portion of the population entering the workforce and becoming potential car buyers. Additionally, the government has implemented policies to support the automotive industry, including reducing import tariffs on small cars and providing subsidies for electric vehicles. These factors have created a favorable environment for the growth of the Small Cars market in Senegal.

    Underlying macroeconomic factors:
    The growth of the Small Cars market in Senegal is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and purchasing power. As a result, more people are able to afford cars, and there is a growing middle class that is driving the demand for small cars. Additionally, the availability of financing options has made it easier for customers to purchase cars, further fueling the growth of the market. In conclusion, the Small Cars market in Senegal is experiencing significant growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As customers prioritize fuel efficiency and maneuverability in urban environments, the demand for small cars is expected to continue to rise. Additionally, the growing interest in electric and hybrid vehicles, along with government support and favorable economic conditions, will further drive the growth of the market in Senegal.

    Technical Specifications

    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

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    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).

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