Following companies
as the key players in the global luxury cars market: Audi, BMW, Daimler, Tesla,
Toyota Motor Corporation
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.”
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According to the report, one of the major drivers for this
market is raising 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.
The study was conducted using an objective combination of
primary and secondary information including inputs from key participants in the
industry. The report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of the key vendors.
About Luxury Cars
Luxury cars are sold at a price of more than $50,000 and have
most of the latest features.
Analysts forecast the
global luxury cars market to grow at a cagr of 11.51% during the period
2018-2022.
Covered in this
report
The report covers the present scenario and the growth
prospects of the global luxury cars market for 2018-2022. To calculate the
market size, the report considers the revenue generated from the sales of
luxury cars.
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The market is divided
into the following segments based on geography:
·
• Americas
·
• APAC
·
• EMEA
Global Luxury Cars Market 2018-2022, has been prepared based
on an in-depth market analysis with inputs from industry experts. The report
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.
Key vendors
·
• Audi
·
• BMW
·
• Daimler
·
• Tesla
·
• Toyota
Motor Corporation
Market driver
·
• Rising
demand for luxury SUVs
·
• For a
full, detailed list, view our report
Market challenge
·
• Rising
preference for top variants of budget car brands
·
• For a
full, detailed list, view our report
Market trend
·
• Increasing
technological updates in luxury cars to beat competition
·
• For a
full, detailed list, view our report
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