Sports Cars - Argentina

Argentina

Highlights

Revenue in the Sports Cars market is projected to reach US$5bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 55.23%, resulting in a projected market volume of US$46bn by 2029.
Sports Cars market unit sales are expected to reach 85.8k vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$179k.
From an international perspective it is shown that the most revenue will be generated United States (US$20bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Sports Cars market in Argentina is experiencing significant growth and development in recent years.

Customer preferences: Argentinian consumers are increasingly drawn to sports cars due to their sleek design, high performance, and prestige. Sports cars are seen as a status symbol and a reflection of one's success and lifestyle. Additionally, the younger generation is particularly interested in sports cars as they associate them with adventure and excitement.

Trends in the market: One of the key trends in the Sports Cars market in Argentina is the increasing demand for electric sports cars. With growing concerns about environmental sustainability, consumers are becoming more conscious of their carbon footprint and are seeking greener alternatives. Electric sports cars offer the perfect combination of high performance and eco-friendliness, making them a popular choice among environmentally conscious consumers. Another trend in the market is the rise of luxury sports car brands. Argentinian consumers are willing to invest in premium sports car brands that offer superior quality, cutting-edge technology, and exclusive features. Luxury sports car brands are seen as a symbol of luxury and sophistication, appealing to consumers who value exclusivity and craftsmanship.

Local special circumstances: Argentina's automotive industry has faced challenges in recent years, including economic instability and fluctuating currency exchange rates. This has impacted the Sports Cars market, as consumers have become more cautious about their spending and are looking for value for money. As a result, there is a growing demand for sports cars that offer a balance between performance and affordability.

Underlying macroeconomic factors: The growth of the Sports Cars market in Argentina can be attributed to several macroeconomic factors. Firstly, there has been a steady increase in disposable income among Argentinian consumers, allowing them to afford luxury and high-performance vehicles. Additionally, favorable financing options and low interest rates have made it easier for consumers to purchase sports cars. Furthermore, the government's efforts to attract foreign investment and promote the automotive industry have contributed to the development of the Sports Cars market. This includes the implementation of policies to reduce import tariffs and encourage local production, making sports cars more accessible to consumers. In conclusion, the Sports Cars market in Argentina is experiencing growth and development due to customer preferences for sleek design and high performance, the increasing demand for electric sports cars, the rise of luxury sports car brands, local special circumstances such as economic instability, and underlying macroeconomic factors including increased disposable income and government initiatives to promote the automotive industry.

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).