Passenger Cars

Passenger Cars

The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Global Passenger Cars Market to Reach 65 Million Units by 2030
In the changed post COVID-19 business landscape, the global market for Passenger Cars estimated at 48 Million Units in the year 2022, is projected to reach a revised size of 65 Million Units by 2030, growing at a CAGR of 3.9% over the period 2022-2030.

The U.S. Market is Estimated at 13.1 Million Units, While China is Forecast to Grow at 6.5% CAGR
The Passenger Cars market in the U.S. is estimated at 13.1 Million Units in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of 13.3 Million Units by the year 2030 trailing a CAGR of 6.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 3.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

Select Competitors (Total 56 Featured) -

• Adam Opel AG
• American Honda Motor Co., Inc.
• Audi AG
• Bayerische Motoren Werke AG (BMW GROUP)
• Beijing Automotive Group Co., Ltd.
• Cadillac
• Daihatsu Motor Co., Ltd.
• Daimler AG
• Dongfeng Motor Corporation
• Dr. Ing. HCF Porsche AG
• Ferrari SpA
• General Motors Company
• Haima Automobile International Corporation
• Hindustan Motors Ltd.
• Honda Motor Co., Ltd.
• Hyundai Motor Company
• Infiniti Motor Company Ltd.
• Kia Motors Corporation
• Mahindra & Mahindra Ltd.
• Maruti Suzuki India Ltd.
• Mazda Motor Corporation
• Mitsubishi Motors Corporation
• Nissan Motor Co., Ltd.
• PSA Peugeot Citroen
• Renault Group
• Tata Motors Ltd.
• Toyota Motor Corporation
• Volkswagen AG
• Volvo Car Corporation

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