Global Luxury Car Market is expected to rise from its initial estimated value of USD 101.41 billion in 2018 to an estimated value of USD 246.63 billion by 2026, registering a CAGR of 11.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising levels of disposable incomes growing the demand for luxury cars in the market. Few of the major competitors currently working in the luxury car market are Volkswagen AG, Daimler AG, BMW AG, Tata Motors, General Motors, AB Volvo, Ford Motor Company, Honda Motor Co. Ltd., ASTON MARTIN LAGONDA, Tesla, Nissan Motor Company, Toyota Motor Corporation, Fiat Automobiles, Ferrari S.p.A., Mahindra & Mahindra Ltd., Pagani Automobili, and SAIC Motor Corporation Limited.
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The market research report, such as luxury car market report, plays a chief role in developing and enhancing the strategies for sales, advertising, marketing, and promotion. To carry out competitive analysis, various strategies of the major players in the market have been considered that range from new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others which lead to an ascend of their footprints in the market. luxury car market research report identifies as well as analyses the emerging trends along with major driving factors, challenges and opportunities in the market for automotive industry.
luxury car market research report has been generated by considering a range of objectives of market research that are vital for the success of automotive industry. luxury car market report also presents an idea about consumer’s demands, preferences, and their altering likings about particular product. A data triangulation method is applied for this purpose which entails data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. It estimates CAGR values in percentages which designate the rise or fall occurring in the market for particular product for the specific forecast period.
- Increased disposable income of the population is expected to drive the market growth
- Increasing levels of adoption and preference of luxury vehicles due to the rising
- Almost similar offerings in lower category of vehicles as offered in luxury vehicles is expected to restrain the market growth
- Increase in prices of luxury cars in the Asia-Pacific region due to the hike in custom duties and other governmental regulations is also expected to restrain the market growth
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports
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Luxury vehicles can be defined as the vehicles that have the most amounts of features available in the vehicle at a high amount of price. They can be defined as providing the drivers and passengers with a high amount of comfort and having the highest quality of materials in the vehicle production. The production process of these vehicles is carried out with the highest quality.
Key Developments in the Market:
- In October 2018, Tesla announced that the production of its new Model Y compact SUV electric-crossover is expected to go into production from 2020.
- In April 2018, Mahindra & Mahindra Ltd. announced the launch of its new luxury car brand Automobili Pininfarina, with its main characteristic being an electric luxury vehicle type.
Global Luxury Car Market Competitive Analysis:
Global luxury car market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of luxury car market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
- By Vehicle
- By Drive Type
- Internal Combustion (IC) Engine
- Electric Vehicle
- By Geography
- North America
- South America
- Rest of South America
- North America
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