Key regions: United States, Germany, United Kingdom, India, China
The SUVs market in Mozambique has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for the increasing popularity of SUVs in Mozambique is the preference for vehicles that offer a combination of comfort, versatility, and ruggedness. SUVs are seen as practical vehicles that can handle various road conditions, including rough terrains and unpaved roads, which are common in many parts of the country. Additionally, Mozambicans value spaciousness and the ability to carry a large number of passengers or cargo, making SUVs an attractive option for families and businesses alike.
Trends in the market: The demand for SUVs in Mozambique has been driven by several trends. Firstly, there has been a shift in consumer preferences towards larger vehicles, as SUVs offer a sense of safety and security on the road. This trend is in line with the global market, where SUVs have been gaining popularity in recent years. Secondly, the improving road infrastructure in Mozambique has made SUVs more accessible to a wider range of consumers. As more roads are paved and upgraded, SUVs are no longer limited to urban areas and can be used for both city driving and off-road adventures. Lastly, the rising disposable income in the country has allowed more Mozambicans to afford SUVs, which are generally priced at a premium compared to other vehicle types.
Local special circumstances: Mozambique's unique geography and climate also contribute to the growing demand for SUVs. The country is known for its diverse landscapes, including mountains, savannahs, and coastal areas. SUVs are well-suited for navigating these different terrains, making them a practical choice for Mozambicans who enjoy outdoor activities such as camping, safari tours, and beach trips. Moreover, the hot and humid climate in Mozambique can be harsh on vehicles, and SUVs are often seen as more durable and capable of withstanding these conditions.
Underlying macroeconomic factors: The development of the SUVs market in Mozambique is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, driven by natural resource extraction and infrastructure development. This has led to an increase in the middle class and a rise in purchasing power, enabling more people to afford SUVs. Additionally, the government's focus on improving road infrastructure and expanding access to remote areas has further fueled the demand for SUVs, as these vehicles are well-suited for long-distance travel and off-road adventures. In conclusion, the SUVs market in Mozambique has been growing due to customer preferences for comfort, versatility, and ruggedness, as well as the increasing demand for larger vehicles and the improving road infrastructure. The unique geography and climate of Mozambique also contribute to the popularity of SUVs, and the country's steady economic growth and government initiatives further support 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).
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