Sale

Luxury Car Market

Global Luxury Car Market Share, Analysis, Forecast: By Vehicle Type: Hatchback, Sedan, Sports Utility Vehicle, Multi-purpose Vehicle; By Drive Type: IC Engine, Electric; By Price Category: USD 80,000 to USD 149,000, USD 150,000 to USD 299,000, USD 300,000 to USD 500,000, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Luxury Car Market Outlook

The global luxury car market size reached a value of USD 483.84 billion in 2023. The market is likely to grow at a CAGR of 4.9% during 2024-2032 to attain a value of USD 744.20 billion by 2032.

 

Increasing Demand for Electric Luxury Cars to Augment the Luxury Car Industry Growth

The luxury car market is growing faster due to the increasing technological advancements like the Internet of Things (IoT) and real-time information solutions being integrated into all-EV charging station systems for electric luxury cars. Leading manufacturers are also developing the latest smart mobility technologies, such retina recognition, autonomous driving, and personal voice assistance. The luxury car market growth is accelerated by the rise in demand for premium and upscale vehicles in addition to an increase in cars powered by diesel engines. Additionally, a rise in passenger car sales brought on by consumer desire for superior vehicles are one of the key luxury car market trends. The luxury car market also benefits from the expansion of the automotive industry, a boom in investments, and rising disposable income.

 

Global Luxury Car Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Increasing Demand for Electric Luxury Cars to Augment the Luxury Car Market Growth

As per the luxury car market analysis, the electric segment is expected to grow at a significant rate in the forecast period. The segment's growth is expected to be driven by the factor that governments all over the world are strengthening automobile emission limits, as concern for the environment and environmental preservation grows.

 

As a result, there is an increasing need for environmentally friendly and sustainable transportation, such as electric automobiles. Various governments are also providing increased subsidies and incentives to these car owners, which is expected to further propel the luxury cars market forward.

 

Asia Pacific to Provide Significant Opportunities for the Luxury Car Market Growth

During the forecast period, the Asia Pacific is expected to be one of the most prominent of all regions, with one of the largest luxury car market in the world. The presence of a number of large-scale firms in this area has had a significant impact on the regional market growth. The luxury car manufacturers in the Asia Pacific have benefited from the ever-increasing population in nations such as India and China. Within the Asia Pacific, the China luxury car market has high growth potential. The low costs and tax advantages connected with assembly and sale procedures across numerous regions account for the growing number of production units in these locations.

 

Luxury Car Market Segmentation

Luxury cars are passenger vehicles that are designed to deliver advanced features, excellent quality, greater levels of equipment, and enhanced comfort to their occupants. Luxury cars are available in a variety of vehicle types, including hatchbacks, SUVs, sedans, and even minivans. Luxury cars also include equipment such as automatic safety measures, entertainment systems, and built-in seat massagers. However, these are costlier than ordinary automobiles and have high-end materials and finishes on both the interior and exterior of the vehicle.

 

Global Luxury Car Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

By vehicle type, the market is divided into:

  • Hatchback
  • Sedan
  • Sports Utility Vehicle
  • Multi-purpose Vehicle

 

Based on drive type, the market can be segmented into:

  • IC Engine
  • Electric

 

On the basis of price category, the market is divided into:

  • USD 80,000 to USD 149,000
  • USD 150,000 to USD 299,000
  • USD 300,000 to USD 500,000
  • Above USD 500,000.

 

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Growing Collaborations Among Companies to Bolster the Growth of the Luxury Car Market

A strong market rivalry around the world due to the increasing globalisation and the rising demand for cars has been aiding the luxury vehicles market growth. This, in turn, has encouraged several companies to implement novel methods to improve customer driving experience, increasing the luxury car market share by brand. These techniques have helped them create a foothold in the market. Thus, the growing number of cross-industry collaborations has been positively impacting the luxury car market share worldwide.

 

Global Luxury Car Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Furthermore, the market for pre-owned luxury vehicles is steadily increasing because owners usually sell these vehicles after one or two years of use in order to upgrade to better models and modifications, increasing the luxury car brand market share. The used luxury vehicle market is becoming increasingly systematised to satisfy rising demand, with easy access to financing, lower entry pricing, and annual maintenance contracts. These factors are expected to further increase the global luxury car market size in the coming years.

 

Key Players in the Global Luxury Car Market

The report gives a detailed analysis of the following key players in the global luxury car market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • Ferrari S.p.A
  • Bugatti Automobiles
  • Rolls-Royce Motor Cars
  • Daimler AG
  • Automobili Lamborghini S.p.A.
  • Koenigsegg Automotive AB
  • Aston Martin Lagonda Limited
  • Bentley Motors Limited
  • Horacio Pagani S.p.A
  • Dr. Ing. h.c. F. Porsche AG
  • Toyota Motor Corporation
  • Tesla, Inc.
  • General Motors
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Vehicle Type
  • Drive Type
  • Price Category
  • Region
Breakup by Vehicle Type
  • Hatchback
  • Sedan
  • Sports Utility Vehicle
  • Multi-purpose Vehicle
Breakup by Drive Type
  • IC Engine
  • Electric
Breakup by Price Category
  • USD 80,000 to USD 149,000
  • USD 150,000 to USD 299,000
  • USD 300,000 to USD 500,000
  • Above USD 500,000.
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ferrari S.p.A
  • Bugatti Automobiles
  • Rolls-Royce Motor Cars
  • Daimler AG
  • Automobili Lamborghini S.p.A.
  • Koenigsegg Automotive AB
  • Aston Martin Lagonda Limited
  • Bentley Motors Limited
  • Horacio Pagani S.p.A
  • Dr. Ing. h.c. F. Porsche AG
  • Toyota Motor Corporation
  • Tesla, Inc.
  • General Motors
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Luxury Car Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Luxury Car Historical Market (2018-2023) 
    8.3    Global Luxury Car Market Forecast (2024-2032)
    8.4    Global Luxury Car Market by Vehicle Type
        8.4.1    Hatchback
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Sedan
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Sports Utility Vehicle
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Multi-purpose Vehicle  
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
    8.5    Global Luxury Car Market by Drive Type
        8.5.1    IC Engine
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Electric
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Luxury Car Market by Price Category
        8.6.1    USD 80,000 to USD 149,000
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    USD 150,000 to USD 299,000
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    USD 300,000 to USD 500,000
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Above USD 500,000.
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Luxury Car Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Luxury Car Market Analysis
    9.1    Market by Vehicle Type
    9.2    Market by Drive Type
    9.3    Market by Price Category
    9.4    Market by Country
        9.4.1    United States of America 
            9.4.1.1    Historical Trend (2018-2023) 
            9.4.1.2    Forecast Trend (2024-2032)
        9.4.2    Canada
            9.4.2.1    Historical Trend (2018-2023) 
            9.4.2.2    Forecast Trend (2024-2032)
10    Europe Luxury Car Market Analysis
    10.1    Market by Vehicle Type
    10.2    Market by Drive Type
    10.3    Market by Price Category
    10.4    Market by Country
        10.4.1    United Kingdom
            10.4.1.1    Historical Trend (2018-2023) 
            10.4.1.2    Forecast Trend (2024-2032)
        10.4.2    Germany
            10.4.2.1    Historical Trend (2018-2023) 
            10.4.2.2    Forecast Trend (2024-2032)
        10.4.3    France
            10.4.3.1    Historical Trend (2018-2023) 
            10.4.3.2    Forecast Trend (2024-2032)
        10.4.4    Italy
            10.4.4.1    Historical Trend (2018-2023) 
            10.4.4.2    Forecast Trend (2024-2032)
        10.4.5    Others
11    Asia Pacific Luxury Car Market Analysis
    11.1    Market by Vehicle Type
    11.2    Market by Drive Type
    11.3    Market by Price Category
    11.4    Market by Country
        11.4.1    China
            11.4.1.1    Historical Trend (2018-2023) 
            11.4.1.2    Forecast Trend (2024-2032)
        11.4.2    Japan
            11.4.2.1    Historical Trend (2018-2023) 
            11.4.2.2    Forecast Trend (2024-2032)
        11.4.3    India
            11.4.3.1    Historical Trend (2018-2023) 
            11.4.3.2    Forecast Trend (2024-2032)
        11.4.4    ASEAN
            11.4.4.1    Historical Trend (2018-2023) 
            11.4.4.2    Forecast Trend (2024-2032)
        11.4.5    South Korea
            11.4.5.1    Historical Trend (2018-2023) 
            11.4.5.2    Forecast Trend (2024-2032)
        11.4.6    Australia
            11.4.6.1    Historical Trend (2018-2023) 
            11.4.6.2    Forecast Trend (2024-2032)
        11.4.7    Others
12    Latin America Luxury Car Market Analysis
    12.1    Market by Vehicle Type
    12.2    Market by Drive Type
    12.3    Market by Price Category
    12.4    Market by Country
        12.4.1    Brazil
            12.4.1.1    Historical Trend (2018-2023) 
            12.4.1.2    Forecast Trend (2024-2032)
        12.4.2    Argentina
            12.4.2.1    Historical Trend (2018-2023) 
            12.4.2.2    Forecast Trend (2024-2032)
        12.4.3    Mexico
            12.4.3.1    Historical Trend (2018-2023) 
            12.4.3.2    Forecast Trend (2024-2032)
        12.4.4    Others
13    Middle East and Africa Luxury Car Market Analysis
    13.1    Market by Vehicle Type
    13.2    Market by Drive Type
    13.3    Market by Price Category
    13.4    Market by Country
        13.4.1    Saudi Arabia
            13.4.1.1    Historical Trend (2018-2023) 
            13.4.1.2    Forecast Trend (2024-2032)
        13.4.2    United Arab Emirates
            13.4.2.1    Historical Trend (2018-2023) 
            13.4.2.2    Forecast Trend (2024-2032)
        13.4.3    Nigeria
            13.4.3.1    Historical Trend (2018-2023) 
            13.4.3.2    Forecast Trend (2024-2032)
        13.4.4    South Africa
            13.4.4.1    Historical Trend (2018-2023) 
            13.4.4.2    Forecast Trend (2024-2032)
        13.4.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis  
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    PESTEL Analysis
        14.3.1    Political
        14.3.2    Economic
        14.3.3    Social
        14.3.4    Technological
        14.3.5    Environment
        14.3.6    Legal
    14.4    Key Indicators for Demand
    14.5    Key Indicators for Price   
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Ferrari S.p.A
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Bugatti Automobiles
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Rolls-Royce Motor Cars
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Daimler AG
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Automobili Lamborghini S.p.A. 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Koenigsegg Automotive AB
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Aston Martin Lagonda Limited
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Bentley Motors Limited
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Horacio Pagani S.p.A
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Dr. Ing. h.c. F. Porsche AG
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Toyota Motor Corporation
            15.2.11.1    Company Overview
            15.2.11.2    Product Portfolio
            15.2.11.3    Demographic Reach and Achievements
            15.2.11.4    Certifications
        15.2.12    Tesla, Inc.
            15.2.12.1    Company Overview
            15.2.12.2    Product Portfolio
            15.2.12.3    Demographic Reach and Achievements
            15.2.12.4    Certifications
        15.2.13    General Motors
            15.2.13.1    Company Overview
            15.2.13.2    Product Portfolio
            15.2.13.3    Demographic Reach and Achievements
            15.2.13.4    Certifications
        15.2.14    Others  
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Luxury Car Market: Key Industry Highlights, 2018 and 2032 
2.    Global Luxury Car Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
3.    Global Luxury Car Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
4.    Global Luxury Car Historical Market: Breakup by Drive Type (USD Million), 2018-2023
5.    Global Luxury Car Market Forecast: Breakup by Drive Type (USD Million), 2024-2032
6.    Global Luxury Car Historical Market: Breakup by Price Category (USD Million), 2018-2023
7.    Global Luxury Car Market Forecast: Breakup by Price Category (USD Million), 2024-2032
8.    Global Luxury Car Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Luxury Car Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Luxury Car Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Luxury Car Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Luxury Car Market Structure

Key Questions Answered in the Report

In 2023, the global market for luxury cars attained a value of USD 483.84 billion.

The market is projected to grow at a CAGR of 4.9% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 744.20 billion by 2032.

The major drivers of the luxury car market expected to aid the market growth are an increase in company collaborations, heightening purchasing power, rising trend of electric luxury cars, and an increase in demand for comfortable driving experiences.

The key market trends guiding the growth of the market include the surging demand for pre-owned luxury automobiles and the desire for electrified and autonomous vehicles utilising artificial intelligence and machine learning features.

North America, Europe, and Latin America are the major regions in the global luxury car market.

The significant drive types include IC engine and electric.

The major players in the market are Ferrari S.p.A, Bugatti Automobiles, Rolls-Royce Motor Cars, Daimler AG, Automobili Lamborghini S.p.A., Koenigsegg Automotive AB, Aston Martin Lagonda Limited, Bentley Motors Limited, Horacio Pagani S.p.A, Dr. Ing. h.c. F. Porsche AG, Toyota Motor Corporation, Tesla, Inc., and General Motors, among others.

The various vehicle types in the market are hatchback, sedan, sports utility vehicle, and multi-purpose vehicle.

Engines, transmissions, sound systems, telematics, safety features, and interior materials are frequently of greater quality in luxury cars, and they are typically priced higher.

Purchase Full Report

Mini Report

$ 2475     $1999
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3849     $3499
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4949     $4499
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 6049     $5499
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER