Mexico Electric Car Market Size
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Study Period | 2017 - 2030 |
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Base Year For Estimation | 2023 |
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Forecast Data Period | 2024 - 2030 |
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Market Size (2024) | USD 0.51 Billion |
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Market Size (2030) | USD 5.06 Billion |
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CAGR (2024 - 2030) | 46.74 % |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Mexico Electric Car Market Analysis
The Mexico Electric Car Market size is estimated at 0.51 billion USD in 2024, and is expected to reach 5.06 billion USD by 2030, growing at a CAGR of 46.74% during the forecast period (2024-2030).
0.51 Billion
Market Size in 2024 (USD)
5.06 Billion
Market Size in 2030 (USD)
19.98 %
CAGR (2017-2023)
46.74 %
CAGR (2024-2030)
Largest Segment by Vehicle Body Type
57.63 %
value share, Sports Utility Vehicle, 2023
In Mexico, electric SUVs lead the market due to their practicality, consumer preference for larger vehicles, and suitability for diverse driving conditions, from urban to rural areas.
Largest Segment by Fuel Category
65.79 %
value share, HEV, 2023
HEVs dominate due to their fuel efficiency, ability to switch between electric and combustion power, and the growing infrastructure supporting hybrid vehicles in Mexico.
Fastest-growing Segment by Fuel Category
83.30 %
Projected CAGR, FCEV, 2024-2030
FCEVs are growing quickly in Mexico due to investments in hydrogen fuel technology, increasing availability of hydrogen refueling stations, and a rising focus on sustainable mobility solutions.
Leading Market Player
57.46 %
market share, Toyota Motor Corporation, 2023
Toyota Motor Corporation leads the market with its wide range of electric vehicle offerings, strong brand reputation, and extensive dealership network throughout Mexico.
Second leading Market Player
27.63 %
market share, Anhui Jianghuai Automobile (JAC), 2023
Anhui Jianghuai Automobile (JAC) is prominent in the market due to its affordable electric car models, strong manufacturing base, and growing presence in the Mexican automotive market.
Steady resurgence expected in the Mexican passenger car market, which is projected to register a CAGR of 9.7% from 2024 to 2030
- The Mexican passenger car market was expected to stabilize in 2022 and 2023, with volumes reaching 486,993 and 504,754 units, respectively. This phase marked a cautious rebound as the industry adjusted to changing consumer preferences and market dynamics, recovering from a previous downturn.
- From 2017 to 2022, the Mexican passenger car market witnessed a significant contraction, with volumes dropping from 984,081 units in 2017 to 486,993 units in 2022. This decline was driven by a mix of economic challenges, evolving consumer behaviors, and the global pandemic, all of which dampened vehicle sales and pushed the industry to adapt and innovate.
- Looking ahead to 2024-2030, the Mexican passenger car market is poised for recovery and growth. Volumes are forecasted to rise from 544,780 units in 2024 to an estimated 950,622 units in 2030, registering a robust CAGR of 9.7%. This phase will be shaped by technological advancements, policy incentives, and market adaptations, propelling the industry to not only regain lost ground but also explore new avenues of growth and opportunity.
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Mexico Electric Car Market Trends
A significant surge in electric vehicle sales is driven by government initiatives and environmental concerns in Mexico
- Over the past few years, Mexico has witnessed a remarkable surge in the adoption of electric vehicles (EVs). This growth can be attributed to several factors: a mounting concern for the environment, heightened awareness of EV benefits, and the Mexican government's proactive stance on deploying green vehicles. In a significant move, in 2016, the Mexican government announced plans to ban diesel vehicles by 2025, replacing them with their eco-friendly counterparts. This policy shift has already yielded impressive results, with electric car sales in the country skyrocketing by 1090% in 2022, compared to 2017 figures.
- Mexico is also witnessing a steady increase in the demand for electric commercial vehicles (ECVs). This surge is propelled by the expanding e-commerce landscape, the need for efficient logistics, and the government's push for sustainable cargo transportation. In a notable move, the Mexican Ministry of Economy, in 2020, introduced tax exemptions on the import of electric vehicles, including passenger cars and trucks. This initiative has played a pivotal role in raising awareness and driving the adoption of ECVs across the nation. As a result, sales of electric commercial vehicles surged by a notable 260% in 2022, compared to 2020.
- In major metropolitan areas, the rising vehicle usage is exacerbating pollution levels. To combat this environmental challenge, the Mexican government has implemented several measures, including mandates for cleaner vehicles. Under Mexico's climate legislation, the government aims to slash carbon emissions by up to 50% by 2050. These proactive steps are expected to further bolster the sales of electric vehicles in Mexico, particularly during 2024-2030.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Mexico's population is on the rise, underlining the importance of strategic planning to accommodate growth and seize opportunities while addressing challenges
- The CVP is projected to continue growing steadily, driven by factors such as technological advancements, a focus on sustainable transportation, and improved economic conditions
- Mexico's auto interest rate has seen significant fluctuations, reflecting the complex interplay between monetary policies, domestic lending practices, and broader economic conditions
- Mexico sees 82% increase in slow charging stations, poised for EV infrastructure growth
- New product launches and the expansion of electric vehicle production drive the demand for battery packs in Mexico
- The Mexican government implemented tax subsidies to tackle inflation, resulting in a USD 4.51 billion loss in 2022
- Mexico's GDP per capita reflects its economic dynamism and recovery capacities, poised to reach USD 13,097.79 in 2024, and reaffirms its position as a burgeoning economic powerhouse in North America
- Mexico's inflation, influenced by global and domestic factors, is set to stabilize for sustained economic progress
- Mexico's MaaS market: A resilient sector with promising growth and future prospects in shared mobility
- Mexico's efforts in reducing emissions and promoting local battery production are expected to drive electric vehicle development
- The Mexican used car sales market is witnessing consistent growth due to key influencing factors
- In 2022, Kia dominated, BMW remained strong in the Mexican hybrid/EV car market, Nissan declined, and JAC emerged
Mexico Electric Car Industry Overview
The Mexico Electric Car Market is fairly consolidated, with the top five companies occupying 93.03%. The major players in this market are Anhui Jianghuai Automobile (JAC), Bayerische Motoren Werke AG, Daimler AG (Mercedes-Benz AG), Ford Motor Company and Toyota Motor Corporation (sorted alphabetically).
Mexico Electric Car Market Leaders
Anhui Jianghuai Automobile (JAC)
Bayerische Motoren Werke AG
Daimler AG (Mercedes-Benz AG)
Ford Motor Company
Toyota Motor Corporation
Other important companies include Audi AG, Groupe Renault, Honda Motor Co. Ltd., Jaguar Land Rover Limited, Kia Corporation, Tesla Inc., Volvo Car AB.
*Disclaimer: Major Players sorted in alphabetical order.
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Mexico Electric Car Market News
- December 2023: Mustang Mach-E has electric all-wheel drive and standard heated seats and a steering wheel.
- November 2023: In 2022, JAC Mexico opens the "JAC Store" number 50 in Ciudad Juárez.
- November 2023: Ford motors and manufacturers 2030 have entered into a strategic Partnerships to help its suppliers achieve their CO2 reduction targets in line with Ford Motor Co.'s global objective of becoming carbon neutral by 2050.
Free with this Report
For the Vehicle Hub report, we provide an extensive collection of over 150 free charts, delivering detailed insights on regional and country-level dynamics within the vehicle industry. This encompasses in-depth analyses of vehicle registrations, usage patterns in both consumer and business segments, and evaluations of various vehicle configurations and body types. The report delves into critical industrial trends such as shifts in vehicle production and distribution centers, changes in vehicle ownership costs, and advancements in automotive technologies. Further, our report offers comprehensive market segmentation by vehicle type, body type, propulsion, and fuel categories, providing a nuanced understanding of the market landscape. It also explores the adoption rate of new technologies, the impact of regulatory changes, and the influence of economic factors on the vehicle market. We include a thorough examination of key industry players, regulatory frameworks, and market size in terms of both revenue and unit sales, leading to strategic projections and forecasts that account for emerging trends and potential shifts in the industry.
Mexico Electric Car Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
- 4.1 Population
- 4.2 GDP Per Capita
- 4.3 Consumer Spending For Vehicle Purchase (cvp)
- 4.4 Inflation
- 4.5 Interest Rate For Auto Loans
- 4.6 Shared Rides
- 4.7 Impact Of Electrification
- 4.8 EV Charging Station
- 4.9 Battery Pack Price
- 4.10 New Xev Models Announced
- 4.11 Used Car Sales
- 4.12 Fuel Price
- 4.13 Oem-wise Production Statistics
- 4.14 Regulatory Framework
- 4.15 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Vehicle Configuration
- 5.1.1 Passenger Cars
- 5.1.1.1 Hatchback
- 5.1.1.2 Multi-purpose Vehicle
- 5.1.1.3 Sedan
- 5.1.1.4 Sports Utility Vehicle
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5.2 Fuel Category
- 5.2.1 BEV
- 5.2.2 FCEV
- 5.2.3 HEV
- 5.2.4 PHEV
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 Anhui Jianghuai Automobile (JAC)
- 6.4.2 Audi AG
- 6.4.3 Bayerische Motoren Werke AG
- 6.4.4 Daimler AG (Mercedes-Benz AG)
- 6.4.5 Ford Motor Company
- 6.4.6 Groupe Renault
- 6.4.7 Honda Motor Co. Ltd.
- 6.4.8 Jaguar Land Rover Limited
- 6.4.9 Kia Corporation
- 6.4.10 Tesla Inc.
- 6.4.11 Toyota Motor Corporation
- 6.4.12 Volvo Car AB
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- MEXICO ELECTRIC CAR MARKET, POPULATION YOY GROWTH RATE, UNITS, 2017 - 2030
- Figure 2:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 3:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 4:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 5:
- MEXICO ELECTRIC CAR MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENTAGE, 2017 - 2022
- Figure 6:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 7:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 8:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 9:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 10:
- MEXICO ELECTRIC CAR MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2023 - 2027
- Figure 11:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2030
- Figure 12:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 13:
- MEXICO MARKET, UNDEFINED YOY GROWTH RATE, 2017 - 2022
- Figure 14:
- MEXICO ELECTRIC CAR MARKET, VOLUME IN UNITS, 2017 - 2030
- Figure 15:
- MEXICO ELECTRIC CAR MARKET, VALUE IN USD, 2017 - 2030
- Figure 16:
- MEXICO ELECTRIC CAR MARKET, BY VEHICLE BODY TYPE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 17:
- MEXICO ELECTRIC CAR MARKET, BY VEHICLE BODY TYPE, BY VALUE IN USD, 2017 - 2030
- Figure 18:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 19:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 20:
- MEXICO ELECTRIC CAR MARKET, BY HATCHBACK, BY VOLUME IN UNITS, 2017 - 2030
- Figure 21:
- MEXICO ELECTRIC CAR MARKET, BY HATCHBACK, BY VALUE IN USD, 2017 - 2030
- Figure 22:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 23:
- MEXICO ELECTRIC CAR MARKET, BY MULTI-PURPOSE VEHICLE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 24:
- MEXICO ELECTRIC CAR MARKET, BY MULTI-PURPOSE VEHICLE, BY VALUE IN USD, 2017 - 2030
- Figure 25:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 26:
- MEXICO ELECTRIC CAR MARKET, BY SEDAN, BY VOLUME IN UNITS, 2017 - 2030
- Figure 27:
- MEXICO ELECTRIC CAR MARKET, BY SEDAN, BY VALUE IN USD, 2017 - 2030
- Figure 28:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 29:
- MEXICO ELECTRIC CAR MARKET, BY SPORTS UTILITY VEHICLE, BY VOLUME IN UNITS, 2017 - 2030
- Figure 30:
- MEXICO ELECTRIC CAR MARKET, BY SPORTS UTILITY VEHICLE, BY VALUE IN USD, 2017 - 2030
- Figure 31:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY VEHICLE BODY TYPE, 2017 - 2030
- Figure 32:
- MEXICO ELECTRIC CAR MARKET, BY FUEL CATEGORY, BY VOLUME IN UNITS, 2017 - 2030
- Figure 33:
- MEXICO ELECTRIC CAR MARKET, BY FUEL CATEGORY, BY VALUE IN USD, 2017 - 2030
- Figure 34:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 35:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 36:
- MEXICO ELECTRIC CAR MARKET, BY BEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 37:
- MEXICO ELECTRIC CAR MARKET, BY BEV, BY VALUE IN USD, 2017 - 2030
- Figure 38:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 39:
- MEXICO ELECTRIC CAR MARKET, BY FCEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 40:
- MEXICO ELECTRIC CAR MARKET, BY FCEV, BY VALUE IN USD, 2017 - 2030
- Figure 41:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 42:
- MEXICO ELECTRIC CAR MARKET, BY HEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 43:
- MEXICO ELECTRIC CAR MARKET, BY HEV, BY VALUE IN USD, 2017 - 2030
- Figure 44:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 45:
- MEXICO ELECTRIC CAR MARKET, BY PHEV, BY VOLUME IN UNITS, 2017 - 2030
- Figure 46:
- MEXICO ELECTRIC CAR MARKET, BY PHEV, BY VALUE IN USD, 2017 - 2030
- Figure 47:
- MEXICO ELECTRIC CAR MARKET MARKET, SHARE(%), BY FUEL CATEGORY, 2017 - 2030
- Figure 48:
- MEXICO ELECTRIC CAR MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2017 - 2030
- Figure 49:
- MEXICO ELECTRIC CAR MARKET, MOST ADOPTED STRATEGIES, 2017 - 2030
- Figure 50:
- MEXICO ELECTRIC CAR MARKET SHARE(%), BY MAJOR PLAYERS, 2021
Mexico Electric Car Industry Segmentation
Passenger Cars are covered as segments by Vehicle Configuration. BEV, FCEV, HEV, PHEV are covered as segments by Fuel Category.
- The Mexican passenger car market was expected to stabilize in 2022 and 2023, with volumes reaching 486,993 and 504,754 units, respectively. This phase marked a cautious rebound as the industry adjusted to changing consumer preferences and market dynamics, recovering from a previous downturn.
- From 2017 to 2022, the Mexican passenger car market witnessed a significant contraction, with volumes dropping from 984,081 units in 2017 to 486,993 units in 2022. This decline was driven by a mix of economic challenges, evolving consumer behaviors, and the global pandemic, all of which dampened vehicle sales and pushed the industry to adapt and innovate.
- Looking ahead to 2024-2030, the Mexican passenger car market is poised for recovery and growth. Volumes are forecasted to rise from 544,780 units in 2024 to an estimated 950,622 units in 2030, registering a robust CAGR of 9.7%. This phase will be shaped by technological advancements, policy incentives, and market adaptations, propelling the industry to not only regain lost ground but also explore new avenues of growth and opportunity.
| Vehicle Configuration | Passenger Cars | Hatchback |
| Multi-purpose Vehicle | ||
| Sedan | ||
| Sports Utility Vehicle | ||
| Fuel Category | BEV | |
| FCEV | ||
| HEV | ||
| PHEV |
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Market Definition
- Vehicle Type - The category includes passenger cars.
- Vehicle Body Type - This include various body types such as Hatchbacks, Sedans, Sports Utility Vehicles, and Multi-purpose Vehicles.
- Fuel Category - The category exclusively covers electric propulsion systems, including various types such as HEV (Hybrid Electric Vehicles), PHEV (Plug-in Hybrid Electric Vehicles), BEV (Battery Electric Vehicles), and FCEV (Fuel Cell Electric Vehicles).
| Keyword | Definition |
|---|---|
| Electric Vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| BEV | A BEV relies completely on a battery and a motor for propulsion. The battery in the vehicle must be charged by plugging it into an outlet or public charging station. BEVs do not have an ICE and hence are pollution-free. They have a low cost of operation and reduced engine noise as compared to conventional fuel engines. However, they have a shorter range and higher prices than their equivalent gasoline models. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all-electric vehicles as well as plug-in hybrids. |
| Plug-in Hybrid EV | A vehicle that can be powered either by an ICE or an electric motor. In contrast to normal hybrid EVs, they can be charged externally. |
| Internal combustion engine | An engine in which the burning of fuels occurs in a confined space called a combustion chamber. Usually run with gasoline/petrol or diesel. |
| Hybrid EV | A vehicle powered by an ICE in combination with one or more electric motors that use energy stored in batteries. These are continually recharged with power from the ICE and regenerative braking. |
| Commercial Vehicles | Commercial vehicles are motorized road vehicles designed for transporting people or goods. The category includes light commercial vehicles (LCVs) and medium and heavy-duty vehicles (M&HCV). |
| Passenger Vehicles | Passenger cars are electric motor– or engine-driven vehicles with at least four wheels. These vehicles are used for the transport of passengers and comprise no more than eight seats in addition to the driver’s seat. |
| Light Commercial Vehicles | Commercial vehicles that weigh less than 6,000 lb (Class 1) and in the range of 6,001–10,000 lb (Class 2) are covered under this category. |
| M&HDT | Commercial vehicles that weigh in the range of 10,001–14,000 lb (Class 3), 14,001–16,000 lb (Class 4), 16,001–19,500 lb (Class 5), 19,501–26,000 lb (Class 6), 26,001–33,000 lb (Class 7) and above 33,001 lb (Class 8) are covered under this category. |
| Bus | A mode of transportation that typically refers to a large vehicle designed to carry passengers over long distances. This includes transit bus, school bus, shuttle bus, and trolleybuses. |
| Diesel | It includes vehicles that use diesel as their primary fuel. A diesel engine vehicle have a compression-ignited injection system rather than the spark-ignited system used by most gasoline vehicles. In such vehicles, fuel is injected into the combustion chamber and ignited by the high temperature achieved when gas is greatly compressed. |
| Gasoline | It includes vehicles that use gas/petrol as their primary fuel. A gasoline car typically uses a spark-ignited internal combustion engine. In such vehicles, fuel is injected into either the intake manifold or the combustion chamber, where it is combined with air, and the air/fuel mixture is ignited by the spark from a spark plug. |
| LPG | It includes vehicles that use LPG as their primary fuel. Both dedicated and bi-fuel LPG vehicles are considered under the scope of the study. |
| CNG | It includes vehicles that use CNG as their primary fuel. These are vehicles that operate like gasoline-powered vehicles with spark-ignited internal combustion engines. |
| HEV | All the electric vehicles that use batteries and an internal combustion engine (ICE) as their primary source for propulsion are considered under this category. HEVs generally use a diesel-electric powertrain and are also known as hybrid diesel-electric vehicles. An HEV converts the vehicle momentum (kinetic energy) into electricity that recharges the battery when the vehicle slows down or stops. The battery of HEV cannot be charged using plug-in devices. |
| PHEV | PHEVs are powered by a battery as well as an ICE. The battery can be charged through either regenerative breaking using the ICE or by plugging into some external charging source. PHEVs have a better range than BEVs but are comparatively less eco-friendly. |
| Hatchback | These are compact-sized cars with a hatch-type door provided at the rear end. |
| Sedan | These are usually two- or four-door passenger cars, with a separate area provided at the rear end for luggage. |
| SUV | Popularly known as SUVs, these cars come with four-wheel drive, and usually have high ground clearance. These cars can also be used as off-road vehicles. |
| MPV | These are multi-purpose vehicles (also called minivans) designed to carry a larger number of passengers. They carry between five and seven people and have room for luggage too. They are usually taller than the average family saloon car, to provide greater headroom and ease of access, and they are usually front-wheel drive. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the sales volume with their respective average selling price (ASP). While estimating ASP factors like average inflation, market demand shift, manufacturing cost, technological advancement, and varying consumer preference, among others have been taken into account.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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