New Cars in Hong Kong industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- New cars market consists of the retail sales/registrations of new passenger cars. Passenger cars include saloons, hatchbacks, SUVs, 4x4s, and light pickup vehicles. Market volume refers to the total number of cars sold in a year, while market value is calculated by multiplying the average retail selling price with the market volume.
- The Hong Kongese new cars market recorded revenues of $21.1 billion in 2023, representing a negative compound annual growth rate (CAGR) of 1.0% between 2018 and 2023.
- Market consumption volumes declined with a negative CAGR of 1.2% between 2018 and 2023 to reach a total of 570.3 thousand units in 2023.
- The contraction of the Hong Kongese new cars market value in 2023 was largely due to tax increases and high borrowing costs, which strained affordability for many potential buyers. The Hong Kong Monetary Authority increased its base rate multiple times, from 4.75% in December 2022 to 5.5% in June 2023, and again to 5.75% in July 2023.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the new cars market in Hong Kong
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the new cars market in Hong Kong
- Leading company profiles reveal details of key new cars market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Hong Kong new cars market with five year forecasts by both value and volume
Reasons to Buy
- What was the size of the Hong Kong new cars market by value in 2023?
- What will be the size of the Hong Kong new cars market in 2028?
- What factors are affecting the strength of competition in the Hong Kong new cars market?
- How has the market performed over the last five years?
- What are the main segments that make up Hong Kong's new cars market?
Table of Contents
1 Executive Summary
2 Market Overview
3 Market Data
4 Market Segmentation
5 Market Outlook
6 Five Forces Analysis
7 Competitive Landscape
8 Company Profiles
9 Macroeconomic Indicators
10 Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Toyota Motor Corp
- Bayerische Motoren Werke AG
- Mercedes-Benz Group AG
