Passenger Cars - Poland

Poland

Revenue in the Passenger Cars market is projected to reach US$12.9bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -1.06%, resulting in a projected market volume of US$12.4bn by 2028.
The market's largest segment is SUVs with a projected market volume of US$6.0bn in 2024.
Passenger Cars market unit sales are expected to reach 422.20k vehicles in 2028.
The volume weighted average price of Passenger Cars market is expected to amount to US$29.53k in 2024.
With a vehicle unit sales share of 34.1% in 2024, Other is expected to have one of the highest market share in the selected region.
The value market share of the make Other in the selected region is expected to stand at 32.6% in 2024.
From an international perspective it is shown that the most revenue will be generated in the United States (US$558bn in 2024).

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

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Analyst Opinion

The Passenger Cars market in Poland has seen significant growth over the past few years, driven by changing customer preferences, market trends, and local special circumstances. Customer preferences in the Passenger Cars market in Poland have shifted towards more fuel-efficient and environmentally friendly vehicles.

This can be attributed to increasing awareness about climate change and the need to reduce carbon emissions. Customers are also seeking vehicles that offer advanced safety features and innovative technology, such as connectivity options and autonomous driving capabilities. Additionally, there is a growing demand for compact and mid-size cars, as they are considered more practical for urban driving conditions.

Trends in the market have also contributed to the growth of the Passenger Cars market in Poland. One of the key trends is the increasing popularity of electric and hybrid vehicles. This can be attributed to government incentives and subsidies, as well as the availability of a wider range of electric vehicle models.

Another trend is the rise of car-sharing and ride-hailing services, which have led to increased demand for compact and affordable vehicles. Additionally, there is a growing trend towards online car sales, with customers preferring to research and purchase vehicles through digital channels. Local special circumstances have also played a role in the development of the Passenger Cars market in Poland.

The country has a well-developed automotive industry, with several major manufacturers and suppliers operating in the market. This has led to a competitive market environment, with manufacturers constantly introducing new models and technologies to attract customers. Additionally, Poland has a strong network of dealerships and service centers, providing customers with easy access to sales and after-sales support.

Underlying macroeconomic factors have also influenced the growth of the Passenger Cars market in Poland. The country has experienced steady economic growth in recent years, leading to increased disposable income and consumer spending. This has allowed more individuals and households to afford cars, driving up demand in the market.

Additionally, low interest rates and favorable financing options have made it easier for customers to purchase cars, further boosting sales. In conclusion, the Passenger Cars market in Poland has experienced significant growth due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards more fuel-efficient and technologically advanced vehicles, the rise of electric and hybrid vehicles, the popularity of car-sharing and online car sales, the presence of a competitive market environment, and favorable macroeconomic conditions have all contributed to the development 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).