Sports Cars - Mauritius

Mauritius

Highlights

Revenue in the Sports Cars market is projected to reach US$17m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.49%, resulting in a projected market volume of US$18m by 2029.
Sports Cars market unit sales are expected to reach 311.0vehicles in 2029.
The volume weighted average price of Sports Cars market in 2024 is expected to amount to US$57k.
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 Mauritius has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Mauritian consumers have shown a growing interest in sports cars, seeking not only high performance but also luxury and style. The desire for status and prestige plays a significant role in driving the demand for sports cars in Mauritius. Customers are increasingly looking for unique and exclusive models that reflect their individuality and social status. Additionally, the younger generation has shown a particular interest in sports cars, viewing them as a symbol of success and achievement.

Trends in the market: One of the key trends in the Sports Cars market in Mauritius is the increasing demand for electric sports cars. As the global trend towards sustainability and environmental consciousness continues to grow, Mauritian consumers are also seeking eco-friendly alternatives in the automotive industry. Electric sports cars offer high performance while reducing carbon emissions, making them an attractive choice for environmentally conscious consumers. The availability of charging infrastructure and government incentives for electric vehicles have further contributed to the growth of this segment in the market. Another trend in the market is the rise of luxury sports car rentals. With the high cost of sports cars, many consumers prefer to rent them for special occasions or short-term use rather than purchasing them outright. Luxury sports car rental services have emerged to cater to this demand, offering a wide range of sports car models for rent. This trend has allowed more consumers to experience the thrill of driving a sports car without the long-term financial commitment.

Local special circumstances: The unique geography and climate of Mauritius also contribute to the development of the Sports Cars market. The island's scenic coastal roads and picturesque landscapes provide an ideal setting for sports car enthusiasts to enjoy their vehicles. The warm weather and relatively small size of the island make it conducive for sports car owners to fully utilize the performance capabilities of their vehicles. Additionally, the luxury tourism industry in Mauritius attracts high-net-worth individuals who may have a preference for sports cars, further driving the demand in the market.

Underlying macroeconomic factors: The overall economic growth and increasing disposable income in Mauritius have also played a role in the development of the Sports Cars market. As the economy continues to expand, more consumers have the financial means to afford luxury goods, including sports cars. The growing middle class in Mauritius has also contributed to the increasing demand for sports cars, as more individuals aspire to own these vehicles as a symbol of their social status and success. In conclusion, the Sports Cars market in Mauritius is experiencing growth due to changing customer preferences, including a desire for high performance, luxury, and style. The increasing demand for electric sports cars and the rise of luxury sports car rentals are key trends in the market. The unique geography and climate of Mauritius, along with the overall economic growth and increasing disposable income, further contribute to the development of the market.

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).