Large Cars - Switzerland

Switzerland

Revenue in the Large Cars market is projected to reach US$634m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -1.40%, resulting in a projected market volume of US$599m by 2028.
Large Cars market unit sales are expected to reach 15,650.0vehicles in 2028.
The volume weighted average price of Large Cars market in 2024 is expected to amount to US$38k.
From an international perspective it is shown that the most revenue will be generated in China (US$106,900m in 2024).

Key regions: China, Europe, Worldwide, United States, United Kingdom

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Region comparison

Currency

Analyst Opinion

The Large Cars market in Switzerland has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences in Switzerland have shifted towards larger cars due to several factors. First, Swiss consumers value safety and quality, and large cars are often perceived as safer and more reliable. Additionally, the Swiss have a preference for cars with high performance and advanced technology features, which are often found in larger models.

Finally, many Swiss families prioritize spaciousness and comfort, making large cars an attractive option. Trends in the market also support the growth of the Large Cars segment in Switzerland. One trend is the increasing popularity of SUVs, which fall into the large car category.

SUVs offer a combination of versatility, off-road capability, and luxury features that appeal to Swiss consumers. Another trend is the demand for electric and hybrid vehicles, which are also available in larger car models. The Swiss government has implemented incentives and infrastructure development to promote the adoption of electric vehicles, further driving the growth of the Large Cars market.

Local special circumstances in Switzerland contribute to the development of the Large Cars market. The country's mountainous terrain and harsh weather conditions make large cars, particularly SUVs, a practical choice for navigating challenging roads and providing stability in adverse weather. Additionally, Switzerland's high standard of living and relatively high disposable income levels allow consumers to afford larger, more expensive cars.

Underlying macroeconomic factors also play a role in the growth of the Large Cars market in Switzerland. The country has a stable economy and low unemployment rate, which increases consumer confidence and purchasing power. Additionally, low interest rates make car financing more affordable, encouraging consumers to invest in larger, higher-priced vehicles.

In conclusion, the Large Cars market in Switzerland is developing due to customer preferences for safety, performance, and spaciousness, as well as the popularity of SUVs and the demand for electric vehicles. Local special circumstances, such as challenging terrain and high disposable income levels, also contribute to the growth of the market. Furthermore, the country's stable economy and low interest rates provide a favorable environment for consumers to invest in larger cars.

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).