Medium Cars - Jordan

Jordan

Revenue in the Medium Cars market is projected to reach €29m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.55%, resulting in a projected market volume of €28m by 2029.
Medium Cars market unit sales are expected to reach 1,463.0vehicles in 2029.
The volume weighted average price of Medium Cars market in 2024 is expected to amount to €20k.
From an international perspective it is shown that the most revenue will be generated in China (€81,970m in 2024).

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

Marché

Marque

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Medium Cars market in Jordan has been experiencing significant growth in recent years. Customer preferences have shifted towards medium-sized vehicles due to their practicality and affordability.

Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of this market. Customer preferences in the Medium Cars market in Jordan have been influenced by several factors. Firstly, medium-sized vehicles are seen as a practical choice for many consumers in Jordan.

They offer a balance between fuel efficiency and interior space, making them suitable for both city driving and longer journeys. Furthermore, medium cars are often more affordable than larger vehicles, making them an attractive option for budget-conscious consumers. In addition, the growing popularity of SUVs in the global market has also influenced customer preferences in Jordan.

Many medium cars now offer SUV-like features, such as higher ground clearance and spacious interiors, which appeal to consumers who desire a versatile and comfortable vehicle. Trends in the Medium Cars market in Jordan have been shaped by global and regional market developments. One notable trend is the increasing demand for electric and hybrid medium cars.

As concerns about climate change and environmental sustainability grow, more consumers are opting for vehicles with lower emissions. This trend is also driven by government incentives and regulations that promote the adoption of electric and hybrid vehicles. Another trend in the market is the integration of advanced technology features in medium cars.

Features such as touchscreen infotainment systems, driver-assistance technologies, and connectivity options have become standard in many medium car models. These features enhance the overall driving experience and appeal to tech-savvy consumers. Local special circumstances have played a role in the development of the Medium Cars market in Jordan.

The country's infrastructure and road network are well-suited for medium-sized vehicles, making them a practical choice for many consumers. Additionally, the availability of financing options and competitive pricing have made medium cars more accessible to a wider range of consumers. Furthermore, the strong presence of international automotive brands in the Jordanian market has contributed to the growth of the Medium Cars segment.

These brands offer a wide range of medium car models that cater to different customer preferences and budgets. Underlying macroeconomic factors have also influenced the development of the Medium Cars market in Jordan. The country's stable economic growth and increasing disposable income levels have made medium cars more affordable for a larger segment of the population.

Additionally, low interest rates and favorable financing options have made it easier for consumers to purchase medium cars. Furthermore, government policies and regulations that promote the automotive industry have attracted investment from international car manufacturers, leading to a wider variety of medium car models available in the market. In conclusion, the Medium Cars market in Jordan is experiencing growth due to customer preferences for practical and affordable vehicles, global and regional market trends, local special circumstances, and underlying macroeconomic factors.

As the market continues to evolve, it is expected that the demand for medium-sized vehicles will remain strong in Jordan.

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).