Passenger cars are the most common means of transportation in developed countries, and their numbers are increasing in developing countries as per capita income increases. The passenger car market in a country is heavily dependent on current economic conditions, and the industry has fallen during the recession in the United States and Europe. Many passenger car manufacturers, including General Motors, Ford and Chrysler, had to seek large loans to continue production in times of economic downturn due to low demand. The passenger car market can be divided into four segments: small, medium, large and premium.
Demand for special utility vehicles (SUVs) has skyrocketed in recent years due to increasing leisure and touring activities worldwide. Small cars are also growing at a faster pace due to less road traffic than large passenger cars. Emerging car financial markets have encouraged the passenger car industry, where customers are offered loans to own cars. Owning a passenger car has been observed as a sign of social status in most developing countries, but is now being purchased by middle-class families as well.
Request a sample to “go ahead” of your competitors @ https://www.persistencemarketresearch.com/samples/3588
Rising raw material prices are one of the biggest concerns for the passenger car market. In recent years, the prices of steel and plastic have soared, and the prices of passenger cars for consumers have risen.
The passenger car market relies heavily on research and development where products need to provide real-time customer requirements in order to remain competitive. In addition, the government is pressing passenger car manufacturers to produce efficient, low-emission vehicles. Passenger car manufacturers are putting a lot of pressure on them to engage in R & D work.
European emission standards (EURO I, EURO II, EURO III, EURO IV, EURO V), Corporate Average Fuel Economy (CAFE), and Federal Motor Vehicle Safety Standards (FMVSS) are the most common emissions adopted in the world’s regions. Some of the criteria. Electric vehicles and hybrid passenger cars are on the market because of their good fuel economy and low emissions. In general, the production process for new passenger car models takes about two and a half to three years.
Regional outlook
Passenger cars are mainly sold through independent dealers affiliated with the manufacturer. Demand calculations by passenger car manufacturers determine the number of vehicles sent to a particular dealer’s location. Most passenger car companies place their manufacturing facilities in the country of sale to avoid shipping costs, currency fluctuation risks, and trade barriers.
However, premium passenger cars are mostly traded because they are sold in small numbers and there is no benefit to having a manufacturing plant. Passenger car manufacturers integrate horizontally rather than vertically to reduce manufacturing costs and procure from vendors instead of manufacturing parts and components. Among the regions, the Asia-Pacific region was the largest passenger car market after Europe in 2013.
The Asia-Pacific region is expected to continue its leadership position until 2020 due to population growth and per capita income growth. The major companies operating in the global passenger car market are General Motors, Volkswagen, Toyota, Hyundai, Ford, Nissan, PSA Peugeot Citroen, Honda, Suzuki and Renault. Most of the top passenger car manufacturers in 2013 belonged to Japan and the United States
To contact your sales representative @ sales@ persistencemarketresearch.com
Key regions rated in this report
- North America
- we
- Canada
- Europe
- France, Germany, Italy, Spain, UK
- Eastern Europe
- CIS
- APAC
- China
- India
- Japan
- Australia
- others
- latin america
- Argentina
- Brazil
- others
Main features of the report
- Drivers, restraints, and challenges that shape the dynamics of the passenger car market
- Industry’s latest innovations and key events
- Analysis of top players’ business strategies
- Passenger Car Market Forecasts and Forecasts (2015-2021)
Buy Now for a detailed competitive analysis @ https://www.persistencemarketresearch.com/checkout/3588
About us: Persistence market research
inquiry:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
US Ph. – + 1-646-568-7751
USA-Canada Toll Free – +1 800-961-0353
Sales – sales @ persistencemarketresearch .com
