New Cars in Hong Kong
Summary
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.
- 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
- 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?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Market volume
- 1.4. Market volume forecast
- 1.5. Geography segmentation
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 3.2. Market volume
- 4 Market Segmentation
- 4.1. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 5.2. Market volume forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What are the strategies of the leading players?
- 8 Company Profiles
- 8.1. Toyota Motor Corp
- 8.2. Bayerische Motoren Werke AG
- 8.3. Mercedes-Benz Group AG
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Hong Kong new cars market value: $ billion, 2018-23
- Table 2: Hong Kong new cars market volume: units, 2018-23
- Table 3: Hong Kong new cars market geography segmentation: $ billion, 2023
- Table 4: Hong Kong new cars market value forecast: $ billion, 2023-28
- Table 5: Hong Kong new cars market volume forecast: units, 2023-28
- Table 6: Toyota Motor Corp: Key Facts
- Table 7: Toyota Motor Corp: Annual Financial Ratios
- Table 8: Toyota Motor Corp: Key Employees
- Table 9: Toyota Motor Corp: Key Employees Continued
- Table 10: Bayerische Motoren Werke AG: Key Facts
- Table 11: Bayerische Motoren Werke AG: Annual Financial Ratios
- Table 12: Bayerische Motoren Werke AG: Key Employees
- Table 13: Bayerische Motoren Werke AG: Key Employees Continued
- Table 14: Mercedes-Benz Group AG: Key Facts
- Table 15: Mercedes-Benz Group AG: Annual Financial Ratios
- Table 16: Mercedes-Benz Group AG: Key Employees
- Table 17: Mercedes-Benz Group AG: Key Employees Continued
- Table 18: Hong Kong Size of Population (million), 2019-23
- Table 19: Hong Kong real GDP (Constant 2010 Prices, $ billion), 2019-23
- Table 20: Hong Kong GDP (Current Prices, $ Billion), 2019-23
- Table 21: Hong Kong Inflation, 2019-23
- Table 22: Hong Kong Consumer Price Index (Absolute), 2019-23
- Table 23: Hong Kong Exchange Rate, 2018-23
- List of Figures
- Figure 1: Hong Kong new cars market value: $ billion, 2018-23
- Figure 2: Hong Kong new cars market volume: units, 2018-23
- Figure 3: Hong Kong new cars market geography segmentation: % share, by value, 2023
- Figure 4: Hong Kong new cars market value forecast: $ billion, 2023-28
- Figure 5: Hong Kong new cars market volume forecast: units, 2023-28
- Figure 6: Forces driving competition in the new cars market in Hong Kong, 2023
- Figure 7: Drivers of buyer power in the new cars market in Hong Kong, 2023
- Figure 8: Drivers of supplier power in the new cars market in Hong Kong, 2023
- Figure 9: Factors influencing the likelihood of new entrants in the new cars market in Hong Kong, 2023
- Figure 10: Factors influencing the threat of substitutes in the new cars market in Hong Kong, 2023
- Figure 11: Drivers of degree of rivalry in the new cars market in Hong Kong, 2023
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