Sports Cars - Indonesia

Indonesia

Highlights

Revenue in the Sports Cars market is projected to reach US$904m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.19%, resulting in a projected market volume of US$912m by 2029.
Sports Cars market unit sales are expected to reach 11.3k vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$80k.
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 Indonesia has been experiencing steady growth in recent years.

Customer preferences: Indonesian customers have shown a growing interest in sports cars, with a particular preference for luxury brands such as Ferrari, Lamborghini, and Porsche. These customers value the performance, prestige, and exclusivity that sports cars offer. They are willing to invest in high-end vehicles that provide a thrilling driving experience and make a statement of their success and status. Additionally, the younger generation in Indonesia is increasingly drawn to sports cars as a symbol of their aspirations and lifestyle.

Trends in the market: One of the key trends in the Sports Cars market in Indonesia is the increasing demand for electric and hybrid sports cars. As the country strives to reduce its carbon footprint and promote sustainable transportation, more customers are opting for eco-friendly options. This trend aligns with the global shift towards electric vehicles and the growing awareness of environmental issues. Luxury car manufacturers are responding to this demand by introducing electric and hybrid models to the Indonesian market. Another trend is the rising popularity of sports SUVs. These vehicles combine the performance and style of sports cars with the practicality and versatility of SUVs. Sports SUVs appeal to customers who desire the sporty driving experience of a sports car but also need the space and functionality of an SUV. This trend reflects the changing needs and preferences of Indonesian customers, who are increasingly seeking versatile and multi-purpose vehicles.

Local special circumstances: Indonesia's growing middle class and increasing disposable income have contributed to the growth of the Sports Cars market. As more Indonesians achieve higher purchasing power, they are able to afford luxury goods, including sports cars. This trend is further fueled by the country's strong economic growth and the emergence of a wealthy elite class. However, it is important to note that the Sports Cars market in Indonesia is still relatively niche compared to other countries. The high price tags and limited infrastructure for sports cars, such as racetracks and specialized service centers, pose challenges for potential customers. Additionally, the country's traffic congestion and road conditions may limit the practicality of owning a sports car.

Underlying macroeconomic factors: Indonesia's strong economic growth, stable political environment, and increasing urbanization have created a favorable market for sports cars. The country's GDP growth and rising middle class have resulted in a larger pool of potential customers who can afford luxury vehicles. Furthermore, the development of infrastructure, such as highways and luxury car dealerships, has made sports cars more accessible to customers across the country. In conclusion, the Sports Cars market in Indonesia is developing due to the preferences of customers for luxury and high-performance vehicles, the increasing demand for electric and hybrid cars, and the rising popularity of sports SUVs. The country's growing middle class, strong economic growth, and improving infrastructure are key factors driving this market. However, challenges such as limited infrastructure and traffic congestion should be considered by both customers and manufacturers.

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).