Mini Cars - Jordan

Jordan

Revenue in the Mini Cars market is projected to reach €13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.10%, resulting in a projected market volume of €14m by 2029.
Mini Cars market unit sales are expected to reach 1,027.0vehicles in 2029.
The volume weighted average price of Mini Cars market in 2024 is expected to amount to €13k.
From an international perspective it is shown that the most revenue will be generated in China (€6,406m in 2024).

Key regions: Worldwide, China, India, United Kingdom, Germany

Marché

Marque

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Mini Cars market in Jordan has been experiencing steady growth in recent years.

Customer preferences: Customers in Jordan have shown a growing interest in Mini Cars due to their compact size, fuel efficiency, and affordability. Mini Cars are well-suited for navigating the narrow streets and congested traffic in urban areas, making them a popular choice among city dwellers. Additionally, the rising cost of fuel has made fuel efficiency a key consideration for many consumers, further driving the demand for Mini Cars.

Trends in the market: One noticeable trend in the Mini Cars market in Jordan is the increasing popularity of electric and hybrid Mini Cars. As environmental concerns become more prominent, consumers are seeking greener alternatives to traditional gasoline-powered vehicles. Electric and hybrid Mini Cars offer lower emissions and reduced fuel consumption, making them an attractive option for environmentally conscious consumers. Another trend in the market is the introduction of advanced technology features in Mini Cars. Manufacturers are incorporating features such as touchscreen infotainment systems, smartphone integration, and advanced safety features to enhance the driving experience and meet the demands of tech-savvy consumers. These technological advancements have contributed to the growing appeal of Mini Cars among younger buyers.

Local special circumstances: Jordan is a country with limited natural resources, including oil. As a result, the government has implemented policies to promote energy conservation and reduce reliance on fossil fuels. This has created a favorable environment for the adoption of Mini Cars, which are known for their fuel efficiency.

Underlying macroeconomic factors: The steady growth of the Mini Cars market in Jordan can also be attributed to favorable macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an increase in disposable income levels. As a result, more consumers are able to afford Mini Cars and are willing to make the investment. Furthermore, the government has implemented policies to support the automotive industry, including tax incentives and subsidies for electric and hybrid vehicles. These measures have encouraged consumers to consider Mini Cars as a viable option and have contributed to the growth of the market. In conclusion, the Mini Cars market in Jordan is developing due to customer preferences for compact, fuel-efficient, and affordable vehicles. The increasing popularity of electric and hybrid Mini Cars, as well as the integration of advanced technology features, are driving the market forward. Local special circumstances, such as the government's focus on energy conservation, and underlying macroeconomic factors, including stable economic growth and government support, have also played a significant role in the market's development.

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).