HS Code:
The Station Wagons and Passenger Vans category, classified under HS Code 8703 (Motor cars and other motor vehicles principally designed for the transport of persons), includes vehicles designed for personal transport with extended cargo or passenger space. Station wagons are typically cars with a longer roofline and rear storage area, while passenger vans are larger vehicles designed to carry multiple passengers, often used for family or commercial purposes. This category is a significant segment of the global automotive market, driven by demand for family vehicles, utility, and versatility.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 10.2 billion
22.4% of total trade of total trade
Increasing
USD 8.5 billion
18.6% of total trade of total trade
Stable
USD 6.8 billion
14.9% of total trade of total trade
Increasing
USD 4.3 billion
9.4% of total trade of total trade
Increasing
USD 3.9 billion
8.6% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
25% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Shift towards hybrid and electric models
Increasing demand for eco-friendly station wagons and vans due to stringent emission regulations and consumer preference for sustainability.
2021-2023
Decline in traditional station wagon popularity
Growing preference for SUVs and crossovers has reduced the market share of traditional station wagons, particularly in North America.
2019-2022
Rising demand for passenger vans in emerging markets
Population growth and urbanization in Asia and Africa have boosted demand for affordable, high-capacity passenger vans for family and commercial use.
2020-2023
The European Union introduced stricter CO2 emission targets for passenger vehicles, pushing manufacturers to accelerate the production of electric and hybrid station wagons and vans.
January 2023
Increased production costs for manufacturers but also a surge in innovation and market opportunities for electric vehicle models.
Updates to the United States-Mexico-Canada Agreement (USMCA) have eased tariffs on automotive imports among member countries, benefiting station wagon and van exports from Mexico.
July 2022
Boosted trade volumes for North American manufacturers and reduced costs for consumers in the region.
Japanese automakers like Toyota have invested heavily in hydrogen fuel cell technology for passenger vans, targeting zero-emission transport solutions.
March 2023
Potential to reshape the market dynamics in favor of hydrogen-powered vehicles if infrastructure support grows.