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Cuba - Passenger Cars - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCuba: Passenger Car Market 2024
Passenger Car Market Size in Cuba
The Cuban passenger car market surged to $X in 2021, picking up by 109% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a perceptible contraction. Passenger car consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.
Passenger Car Exports
Exports from Cuba
In 2021, overseas shipments of passenger cars were finally on the rise to reach X units after two years of decline. In general, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 500% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.
In value terms, passenger car exports surged to $X in 2021. Overall, exports, however, faced a abrupt descent. The pace of growth was the most pronounced in 2017 when exports increased by 543% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.
Exports by Country
Guatemala (X units), Angola (X units) and Congo (X units) were the main destinations of passenger car exports from Cuba. Moreover, passenger car exports in Guatemala exceeded the figures recorded by the second-largest exporter, Angola, twofold.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +73.2%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for passenger car exported from Cuba were Angola ($X), Benin ($X) and Guatemala ($X).
Benin, with a CAGR of +42.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average passenger car export price stood at $X per unit in 2021, rising by 101% against the previous year. Over the period under review, the export price posted prominent growth. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Guatemala ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahamas (+107.2%), while the prices for the other major destinations experienced more modest paces of growth.
Passenger Car Imports
Imports into Cuba
In 2021, approx. X units of passenger cars were imported into Cuba; increasing by 70% on the previous year's figure. Overall, imports, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 169% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.
In value terms, passenger car imports surged to $X in 2021. In general, imports, however, continue to indicate a noticeable reduction. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.
Imports by Country
India (X units), South Korea (X units) and China (X units) were the main suppliers of passenger car imports to Cuba.
From 2012 to 2021, the biggest increases were recorded for Estonia (with a CAGR of +170.9%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest passenger car suppliers to Cuba were South Korea ($X), India ($X) and China ($X).
Among the main suppliers, Estonia, with a CAGR of +208.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2021, the average passenger car import price amounted to $X per unit, rising by 69% against the previous year. Over the period under review, the import price, however, saw a mild decrease. The growth pace was the most rapid in 2017 an increase of 127%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Estonia ($X per unit), while the price for India ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the passenger car market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29102100 - Vehicles with spark-ignition engine of a cylinder capacity. 1 .500 cm., new
- Prodcom 29102230 - Motor vehicles with a petrol engine > 1 .500 cm. (including motor caravans of a capacity > 3 .000 cm.) (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
- Prodcom 29102250 - Motor caravans with a spark-ignition internal combustion reciprocating piston engine of a cylinder capacity > 1 .500 cm. but . 3 .000 cm.
- Prodcom 29102310 - Motor vehicles with a diesel or semi-diesel engine . 1 .500 cm. (excluding vehicles for transporting . .10 persons, s nowmobiles, golf cars and similar vehicles)
- Prodcom 29102330 - Motor vehicles with a diesel or semi-diesel engine > 1 .500 cm. but . 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
- Prodcom 29102340 - Motor vehicles with a diesel or semi-diesel engine > 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)
- Prodcom 29102353 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 1 .500 cm. but . 2 .500 cm.
- Prodcom 29102355 - Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 2 .500 cm.
- Prodcom 29102400 - Other motor vehicles for the transport of persons (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)
- Prodcom 29102410 -
- Prodcom 29102430 -
- Prodcom 29102450 -
- Prodcom 29102490 -
Country coverage:
- Cuba
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Cuba
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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