Large Cars - Germany

Germany

In Germany, the revenue in the Large Cars market is projected to reach €12,790m in 2024.
This market segment is expected to show an annual growth rate (CAGR 2024-2028) of -2.62%, resulting in a projected market volume of €11,500m by 2028.
By that year, the unit sales of Large Cars market in Germany are expected to reach 308.5k vehicles.
The volume weighted average price of Large Cars market in the market segment is expected to be €37k in 2024.
From an international perspective, it is shown that the most revenue in the Large Cars market will be generated China, with €99,130m in 2024.
Germany's love for luxury and engineering excellence is reflected in the strong demand for large cars in the country's automotive market.

Key regions: Worldwide, China, India, Germany, Europe

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Analyst Opinion

The Large Cars market in Germany has seen significant growth in recent years, driven by changing customer preferences and favorable macroeconomic factors. German consumers have shown a strong preference for large cars, which offer spacious interiors, advanced technology, and powerful performance.

This trend is in line with the global market, where large cars have gained popularity due to their versatility and comfort. Customer preferences in Germany have shifted towards larger vehicles, such as SUVs and luxury sedans. This can be attributed to several factors.

Firstly, German consumers value spacious interiors and ample cargo space, making large cars an attractive option for families and individuals who require more room. Additionally, the advanced technology features offered in large cars, such as infotainment systems and driver assistance features, have become increasingly important to German consumers. Lastly, the powerful performance and high-quality craftsmanship associated with large cars have contributed to their popularity in the German market.

The trends in the Large Cars market in Germany are also influenced by local special circumstances. Germany is known for its well-maintained road infrastructure and high-speed highways, which make large cars a practical choice for long-distance travel. Furthermore, the country's strong automotive industry and engineering expertise have led to the development of high-performance large cars that cater to the preferences of German consumers.

Underlying macroeconomic factors have also played a role in the growth of the Large Cars market in Germany. The country's strong economy and high disposable income levels have allowed consumers to afford larger and more expensive vehicles. Additionally, low interest rates and favorable financing options have made it easier for consumers to purchase large cars.

The availability of leasing and financing options has further contributed to the growth of the market. In conclusion, the Large Cars market in Germany has experienced significant growth due to changing customer preferences, local special circumstances, and favorable macroeconomic factors. German consumers value the spacious interiors, advanced technology, and powerful performance offered by large cars.

The country's well-maintained road infrastructure, strong automotive industry, and high disposable income levels have further contributed to the growth of the market.

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).