Luxury Car - Demand And Trends

 Luxury Cars can be defined as passenger vehicles that are intended to provide passengers with advanced features, high quality, a higher level of equipment, and enhanced comfort. Luxury cars are available in all vehicle categories such as hatchbacks, sports utility vehicles, sedans, and others. In addition, luxury cars offer features such as a heated steering wheel, automatic safety features, entertainment systems, and integrated seat massagers. 

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A luxury hatchback is a luxury car with a hatch or tailgate in the back that opens upwards. In addition, a hatchback car is traditionally considered as a small coupe-to-sedan-size car with a big door at the back to provide more storage space. The hatchback's large flip-up tailgate opens to a high, unobstructed space with no package trays.

Top Key Players - 

Ferrari N.V., Daimler AG, Rolls-Royce plc, Aston Martin Lagonda, Lexus (TOYOTA MOTOR CORPORATION), Volkswagen AG, Tesla, INFINITI (NISSAN MOTOR CORPORATION), Volvo Car Corporation, BMW AG

Significant factors that impact growth of the luxury car market comprise rise in demand for luxury vehicles, and increased demand for comfortable driving experiences. However, factors such as high cost of luxury cars is expected to hamper the market growth during the forecast period.

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KEY FINDINGS OF THE STUDY

  • By vehicle type, the sports utility vehicle segment is anticipated to exhibit significant growth in the near future.
  • By fuel type, the electric and hybrid segment is anticipated to exhibit significant growth in the near future.
  • By vehicle class, the ultra-luxury segment is anticipated to exhibit significant growth in the near future.
  • By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.


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