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Dublin, Sept. 16, 2019 (GLOBE NEWSWIRE) -- The "Global Luxury Car Market By Vehicle Type (Hatchback, Sedan, SUV & Others), By Fuel Type (Petrol, Diesel & Others), By Engine Capacity (<2500cc, 2500-5000cc & >5000cc), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global luxury car market registered sales of over 8 million units in 2018 and the market is anticipated to grow at brisk rate during the forecast period.
Years Considered for this Report
Objective of the Study
Luxury cars, the status symbol, have high horse power, offer more security, and come with tractional control, airbags, review cameras and anti-lock braking systems. Moreover, luxury cars come with latest technologies and offer enhanced interior experience such as contoured dash, heated seats, better sound systems and real time navigation systems. The option of customization and high horse power with remote starters, electronic parking aids and rain-sensing windshield wipers only add-up to their demand, thereby promoting growth of the global luxury car market. Additionally, the resale value of luxury cars is high, making them even more popular.
The market can be segmented based on vehicle type, fuel type and engine capacity. Based on the vehicle type, the global luxury car market can be bifurcated into SUV, sedan, hatchback, among others. Sedans is the dominant vehicle type in 2018 and the vehicle type is expected to continue its leading position in the forthcoming years as well. This is due to high mileage, high performance and comfortable riding experience offered by sedan when compared with counterparts.
In terms of regional analysis, the market can be segmented into North America, South America, Asia Pacific, Europe and Middle East & Africa. Asia-Pacific luxury car market is growing at a brisk rate with China leading the numbers in the market. India is one of the largest passenger car markets in the world, however, the penetration of luxury vehicles is low, which is anticipated to increase during the forecast period. This is due to the fact that automobile companies have started launching multiple strategically priced models with various smart financing schemes and per capita income are increasing in the country. Moreover, Indian government is offering subsidies for the purchase of electric vehicles.
Major players operating in the global luxury car market include Bayerische Motoren Werke AG (BMW), Mercedes-Benz, Audi AG, Toyota Motor Corporation, Honda Motor Company, Ltd, Passat (Santana), Cadillac, Mini, Lexus, Tesla, among others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market.
Other competitive strategies include mergers & acquisitions and new product developments. In 2018, Mercedes Benz registered highest sales in the premium segment for three years in a row. Moreover, buyers are showing interest in electric vehicles, leading to significant sales volume of Tesla Inc.'s luxury cars.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Analyst View
4. Voice of Customer
5. Global Luxury Car Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (Hatchback, Sedan, SUV and Others)
5.2.2. By Fuel Type (Petrol, Diesel, Electric and Others)
5.2.3. By Engine Capacity (< 2500cc, 2500-5000cc, & >5000cc)
5.2.4. By Company
5.2.5. By Region
5.3. Market Attractiveness Index
6. Asia-Pacific Luxury Car Market Outlook
7. Europe Luxury Car Market Outlook
8. North America Luxury Car Market Outlook
9. Middle East & Africa Luxury Car Market Outlook
10. South America Luxury Car Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Bayerische Motoren Werke AG (BMW)
13.3. Audi AG
13.4. Toyota Motor Corporation
13.5. Honda Motor Company Ltd.
13.6. Passat (Santana)
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/va0mdm
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