Passenger Cars - Tunisia

Tunisia

Revenue in the Passenger Cars market is projected to reach US$1,345.0m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.22%, resulting in a projected market volume of US$1,429.0m by 2029.
The market's largest segment is SUVs with a projected market volume of US$577.5m in 2024.
Passenger Cars market unit sales are expected to reach 35.68k vehicles in 2029.
The volume weighted average price of Passenger Cars market is expected to amount to US$39.26k in 2024.
With a vehicle unit sales share of 38.2% in 2024, Volkswagen is expected to have one of the highest market share in the selected region.
The value market share of the make Volkswagen in the selected region is expected to stand at 27.2% in 2024.
From an international perspective it is shown that the most revenue will be generated in the United States (US$605bn in 2024).

Key regions: United States, Germany, Europe, China, India

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Region comparison

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Analyst Opinion

The Passenger Cars market in Tunisia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Passenger Cars market in Tunisia have been shifting towards more fuel-efficient and environmentally friendly vehicles.

This is in line with global trends, as customers are becoming more conscious of the environmental impact of their vehicles and are seeking more sustainable options. As a result, there has been an increased demand for hybrid and electric vehicles in Tunisia. Trends in the market also indicate a growing interest in technology and connectivity features in passenger cars.

Customers in Tunisia are increasingly looking for vehicles that offer advanced infotainment systems, smartphone integration, and other smart features. This trend is driven by the growing popularity of smartphones and the increasing reliance on technology in everyday life. Local special circumstances in Tunisia have also contributed to the development of the Passenger Cars market.

The government has implemented policies and incentives to promote the use of electric vehicles, including tax breaks and subsidies. This has encouraged customers to consider electric vehicles as a viable option, further driving the growth of the market. Additionally, the government has been investing in the development of charging infrastructure for electric vehicles, making it more convenient for customers to own and operate these vehicles.

Underlying macroeconomic factors have also played a role in the development of the Passenger Cars market in Tunisia. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and purchasing power. This has allowed more customers to afford passenger cars and has contributed to the growth of the market.

Additionally, low interest rates and favorable financing options have made it easier for customers to purchase cars, further boosting the market. In conclusion, the Passenger Cars market in Tunisia is developing in response to changing customer preferences, emerging trends in the market, and local special circumstances. The shift towards fuel-efficient and technologically advanced vehicles, along with government incentives and favorable macroeconomic factors, has contributed to the growth of the market.

As these factors continue to evolve, the Passenger Cars market in Tunisia is expected to further expand in the coming years.

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).