The global luxury cars market to grow at a CAGR of 11.51% during the period 2018-2022.
Global Luxury Cars Market 2018-2022 covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of luxury cars.
The latest trend gaining momentum in the market is Increasing technological updates in luxury cars to beat competition. Luxury cars are viewed as flagship models of automakers. Hence, automakers update their luxury car models with highly sophisticated technologies and features like parking assist. Volvo XC90 has an advanced system of parking assist with four hidden cameras to give the driver a 360 view while parking as well as driving. The feed from the cameras is controlled using a touch display. The driver can choose the angle and camera for making an informed decision regarding parking. The vehicle can also semi-automatically steer, stop, decelerate, and accelerate itself under 30 miles per hour.
According to the report, one of the major drivers for this market is Rising demand for luxury SUVs. SUVs are high-power vehicles with higher seating, ground clearance, the center of gravity; and capability to travel on off-road conditions. They render higher safety due to a large number of safety features, which are standard fitment in such vehicles. The Americas is the most favorable market for SUV model vehicles due to the cheap availability of credit, low fuel prices, and technological advances.
Further, the report states that one of the major factors hindering the growth of this market is Rising preference for top variants of budget car brands. European auto manufacturers markets budget cars variants to capture passenger car market which has increased its sale volume in 2016. As these budget cars are developed and launched as the strategic business units of main parent vehicle manufacturer.
For instance, Volkswagen and Nissan owned had affected the sales of its luxury segment because of providing advanced to technologies to budget cars for increasing its sales. This is expected to remain as a challenge for the global luxury cars market during the forecast period.
Toyota Motor Corporation
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
Market segmentation analysis
PART 05: MARKET SIZING
Market sizing 2017
Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
PART 07: MARKET SEGMENTATION BY PRODUCT
Segmentation by product
Comparison by product
Executive luxury cars - Market size and forecast 2017-2022
Super luxury cars - Market size and forecast 2017-2022
Market opportunity by product
PART 08: CUSTOMER LANDSCAPE
PART 09: REGIONAL LANDSCAPE
Key leading countries
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
Launch of electric luxury car models
Increasing technological updates in luxury cars to beat competition