Wednesday, 2 May 2018

Luxury Cars Market Industry: Future Demand, Market Analysis & Outlook to 2022

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.
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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