A Study of the Global Luxury Car Market 2017 - Research and Markets
June 19 2017 - 07:37AM
Business Wire
Research and Markets has announced the addition of the "A Study
of the Global Luxury Car Market 2017" report to their offering.
A Study of the Global Luxury Car Market 2017'highlights key
dynamics of the global luxury car market. The growing opportunity
in the sector has been investigated along with analysis of the five
markets of luxury cars: United States, Europe, China India and
Middle East.
The Initiatives and performance of key global players including
Volkswagen AG, Daimler AG, Bayerische Motoren Werke AG (BMW), Tata
Motors Limited and General Motors Company along with current market
scenario has also been studied. The report contains latest industry
leaders verbatim.
The global luxury car market has seen been relatively untouched
by the financial crisis and has been posting growth driven by the
emerging markets. The three German players BMW, Audi and
Mercedes-Benz account for approximately 80% share of the global
luxury car market. BMW is the global leader in the luxury car
segment, followed by Mercedes-Benz and Audi. World over while mass
automobile manufacturers are struggling with margins, high end
manufacturers are enjoying steadily increasing sales.
In the United States luxury car market, over the past few years,
it is the crossovers and SUVs, which have been experiencing growth
in sales. In 2016, the two leading players in the market,
Mercedes-Benz and Lexus did not see any of its non-SUV models
experience growth in sales. The luxury car market in the US is now
diverging into two clear categories, the budget cars and the ultra
luxury cars. There is clustering of new purchases in the two
extreme categories of budget and ultra luxury.
Demand for luxury cars in Europe had been at a low for nearly
two decades and started recovering gradually from 2014. Even though
challenging economic conditions still prevail in many European
markets, players such as BMW have been able to maintain volumes of
their higher end models. In Europe, there is greater demand for
high-end models as compared to the emerging markets such as China
where the entry-level luxury markets are seeing greater growth. New
players in the market such as Hyundai have big plans for Europe
even though traditionally the foreign players have not been able to
match the big 3 German brands which account for approximately 4 out
of 5 luxury cars in the market.
In 2017, the luxury car segment in China is seeing strong
growth. The millionaires in China increased by 10% in 2016
year-on-year. Despite the government's austerity drive, sales of
super-luxury and supercar sales have not slowed down in China.
Mercedes-Benz witnessed its best ever month in terms of sales in
China in March 2017.
India is one of the largest passenger vehicle markets in the
world and vehicle manufacturers both in the passenger and luxury
segment see a huge potential for sales growth in the country. While
the luxury car penetration level in the country is low but leading
luxury car manufacturers are betting on the market's potential.
Luxury car penetration in India currently stands at 1.1%. Launch of
multiple strategically priced models at various price points
coupled with smart financing schemes and a robust dealer network is
boosting the sales of luxury cars in India.
In the GCC region, the United Arab Emirates is the
second-largest automotive market after Saudi Arabia. U.A.E. is
heavily dependent upon imports and almost the entire supply of car
as well as light vehicles is imported. The low oil prices and
global macroeconomic factors are affecting the luxury goods market
in the Middle East. While over the last 10 years the personal
luxury goods market witnessed an annual growth of 8-10%, it is
projected to drop to approximately 4-5% over the next few years.
Even amidst the economic slowdown globally, the sales of luxury
cars per capita are still the highest in the Middle East.
Key Topics Covered:
1. Analyst Opinion
2. Global Luxury Car Market
3. United States Luxury Car Market
4. Europe Luxury Car Market
5. China Luxury Car Market
6. India Luxury Car Market
7. Middle East Luxury Car Market
8. Key Player Profiles
- Bayerische Motoren Werke AG (BMW)
- Daimler AG
- General Motors Company
- Tata Motors Limited
- Volkswagen AG
For more information about this report visit
https://www.researchandmarkets.com/research/3vd7z3/a_study_of_the
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version on businesswire.com: http://www.businesswire.com/news/home/20170619005603/en/
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