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Hatchback Market Trends

Report ID: GMI8247
Published Date: Feb 2024
Report Format: PDF

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Hatchback Market Trends

The hatchback industry has witnessed significant technological advancements, different Advanced Driver Assistance Systems (ADAS), such as lane departure warning, automatic emergency braking, and blind-spot monitoring offer improved safety and peace of mind, attracting safety-conscious buyers. Integration with cellphones, music streaming services, and AI-powered navigation systems creates a more connected and comfortable driving experience, which appeals to tech-savvy users.

In addition to this, some manufacturers provide factory customization choices for external styling, interior trimmings, and technology packages, allowing customers to personalize their hatchbacks. A wide range of aftermarket accessories allows for more customization and personalization of hatchbacks, catering to a variety of preferences and styles. All these technological advancements are shaping the future of the automotive industry, and hatchbacks are at the forefront of this evolution.

For instance, In January 2024, Ford introduced performance and technological improvements to its Fiesta ST and Puma ST models. The Fiesta ST now boasts a 200-horsepower turbocharged engine, along with driver assistance functionalities like lane departure warning and automated emergency braking. Meanwhile, the Puma ST features a 201-horsepower engine, launch control, track mode, and enhanced sporty design elements. Both models come equipped with the SYNC4 infotainment system, offering voice command functionality, cloud connectivity, and seamless smartphone integration.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of hatchback reached USD 592.2 billion in 2023 and is set to witness 8% CAGR from 2024 to 2032, owing to rising affordability making them an appealing alternative for cost-conscious consumers worldwide.

Hatchback industry from the compact segment recorded over 39% share in 2023, due to achieving an equilibrium between price, and acceptable space & features, making them an appealing entry point for first-time purchasers.

Asia Pacific market accounted for 48% share in 2023, due to rising urbanization, rising disposable income levels, and expanding demand for small & fuel-efficient vehicles in the region.

Chevrolet, Ford, Honda, Hyundai, Kia, Mitsubishi, Nissan, Stellantis, Toyota, and Volkswagen, are some of the major hatchback companies worldwide.