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Link to original content: http://statista.com/outlook/mmo/passenger-cars/mini-cars/china
Mini Cars - China | Statista Market ForecastSkip to main content
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  2. Mobility
  3. Passenger Cars

Mini Cars - China

China
  • Revenue in the Mini Cars market is projected to reach US$7bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.93%, resulting in a projected market volume of US$7bn by 2029.
  • Mini Cars market unit sales are expected to reach 567.6k vehicles in 2029.
  • The volume weighted average price of Mini Cars market in 2024 is expected to amount to US$13k.
  • From an international perspective it is shown that the most revenue will be generated China (US$7bn in 2024).

The Mini Cars Market segment includes economy passenger cars of an average footprint around 3.35m2 (36 ft2), an average mass around 1000kg (2250lbs) and passenger/cargo volume less then 2.4m3 (around 85 ft3). Although it is considered the market with the lowest-priced models, prices in the Mini Cars segment are comparable to those of small cars. All key figures shown represent the sales of new mini cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models.

  • European Car Segment: A (Mini Cars)
  • US Car Segment: Minicompact Cars
  • Chinese Car Segment: Category A
  • Also known as: City Cars, Microcars

Example models: Daihatsu Sirion, Fiat 500, Fiat Panda, Hyundai i10, Kia Picanto, Mini Cooper, Nissan Micra, Renault Twingo, Smart EQ fortwo.

In-Scope

  • Economy passenger cars - Mini cars

Out-Of-Scope

  • Mini MPVs
Mini Cars: market data & analysis - Cover

Market Insights report

Mini Cars: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Mini Cars market in China has been experiencing significant growth in recent years.

    Customer preferences:
    Chinese customers have shown a strong preference for compact and fuel-efficient vehicles, making mini cars a popular choice in the country. These vehicles are not only affordable but also well-suited for navigating the crowded streets of Chinese cities. Additionally, mini cars are often favored by young urban dwellers who prioritize convenience and ease of parking.

    Trends in the market:
    One of the key trends in the Mini Cars market in China is the increasing demand for electric mini cars. With the Chinese government's push towards sustainable transportation, there has been a surge in the adoption of electric vehicles across the country. Mini cars, being smaller and more compact, are ideal for electric powertrains, making them a popular choice among environmentally-conscious consumers. This trend is expected to continue as the government continues to incentivize the purchase and use of electric vehicles. Another trend in the market is the growing popularity of mini SUVs in China. These vehicles combine the compact size of mini cars with the ruggedness and versatility of SUVs, making them a perfect fit for Chinese consumers who value both practicality and style. The mini SUV segment has seen rapid growth in recent years, with both domestic and international automakers introducing new models to cater to this demand.

    Local special circumstances:
    China's rapidly urbanizing population and congested cities create unique circumstances that favor the Mini Cars market. The limited availability of parking spaces and the high cost of owning larger vehicles make mini cars an attractive option for many Chinese consumers. The compact size of mini cars allows for easier maneuverability in crowded city streets and makes finding parking spaces less of a challenge.

    Underlying macroeconomic factors:
    China's growing middle class and rising disposable incomes have played a significant role in driving the growth of the Mini Cars market. As more Chinese consumers enter the middle class, they are seeking affordable and convenient transportation options, making mini cars an appealing choice. Furthermore, government policies and incentives have also contributed to the growth of the Mini Cars market in China. The government's support for electric vehicles, including subsidies and tax breaks, has encouraged consumers to choose mini cars with electric powertrains. Additionally, the government's efforts to reduce pollution and congestion in major cities have led to stricter regulations on vehicle ownership and usage, further driving the demand for mini cars. In conclusion, the Mini Cars market in China is experiencing growth due to customer preferences for compact and fuel-efficient vehicles, the increasing demand for electric vehicles, the popularity of mini SUVs, unique local circumstances such as limited parking spaces, and underlying macroeconomic factors such as the growing middle class and government policies and incentives. This market is expected to continue to expand as more Chinese consumers seek affordable and convenient transportation options.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    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).

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