Luxury Car Market 2023: Share, Key Players, Industry Trends, Insights and Forecast to 2028

According to the latest report by IMARC Group, titled "𝗟𝘂𝘅𝘂𝗿𝘆 𝗖𝗮𝗿 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗚𝗹𝗼𝗯𝗮𝗹 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗧𝗿𝗲𝗻𝗱𝘀, 𝗦𝗵𝗮𝗿𝗲, 𝗦𝗶𝘇𝗲, 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁 𝟮𝟬𝟮𝟯-𝟮𝟬𝟮𝟴", The global luxury car market size reached US$ 424.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 565.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

𝗬𝗲𝗮𝗿 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗲𝗱 𝘁𝗼 𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗲 𝘁𝗵𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲:

Base Year of the Analysis: 2022
Historical Period: 2017-2022
Forecast Period: 2023-2028

𝗟𝘂𝘅𝘂𝗿𝘆 𝗖𝗮𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄:

Luxury cars are premium vehicles equipped with technologically advanced features such as entertainment systems, integrated seat massagers, cameras, maps, automatic safety features, and upgraded suspension and engines. Some standard features in luxury cars include an anti-kidnapping heartbeat monitor, jump seat, trunk hinges, top speed key, starlight headliner, gear selector, pop-up tweeters, and air vent slats, among others. In addition to this, they exhibit high-quality interiors that provide enhanced ease and comfort to drivers and passengers, due to which they cost significantly more than economy or mid-sized cars.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗳𝗿𝗲𝗲 𝘀𝗮𝗺𝗽𝗹𝗲 𝗯𝗿𝗼𝗰𝗵𝘂𝗿𝗲: https://www.imarcgroup.com/luxury-car-market/requestsample

𝗟𝘂𝘅𝘂𝗿𝘆 𝗖𝗮𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗿𝗲𝗻𝗱𝘀:

The changing consumer preferences toward luxury cars, rising disposable incomes, and substantial increase in tangible luxury offerings within a vehicle are primarily driving the market growth. Moreover, escalating demand for sustainable and eco-friendly electric luxury vehicles due to growing environmental concerns among the masses and the implementation of stringent emission norms are positively influencing the market growth. Additionally, the introduction of next-generation smart mobility technologies, such as personal voice assistance, autonomous driving, and retina recognition, combined with the integration of intelligence (AI), machine learning (ML), and the internet of things (IoT), is propelling the market growth. Furthermore, the expanding popularity of pre-owned luxury vehicles on account of affordability, lower entry prices, and annual maintenance contracts is aiding in market expansion.

𝗖𝗵𝗲𝗰𝗸𝗼𝘂𝘁 𝗡𝗼𝘄: https://www.imarcgroup.com/checkout?id=4197&method=1

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲 𝗪𝗶𝘁𝗵 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀:

The competitive landscape of the luxury car market has been studied in the report with the detailed profiles of the key players operating in the market.

𝗦𝗼𝗺𝗲 𝗼𝗳 𝘁𝗵𝗲𝘀𝗲 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲:

• AB Volvo,
• Aston Martin Lagonda Global Holding Plc,
• BMW AG,
• Daimler AG,
• Ferrari N.V.,
• Nissan Motor Company Ltd.,
• Tesla Inc,
• Toyota Motor Corporation
• Volkswagen AG.

𝗘𝘅𝗽𝗹𝗼𝗿𝗲 𝗙𝘂𝗹𝗹 𝗥𝗲𝗽𝗼𝗿𝘁 𝗪𝗶𝘁𝗵 𝗧𝗢𝗖 & 𝗟𝗶𝘀𝘁 𝗼𝗳 𝗙𝗶𝗴𝘂𝗿𝗲𝘀: https://www.imarcgroup.com/luxury-car-market/toc

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻:

The report has segmented the luxury car market on the basis of vehicle type, fuel type, price range, and region.

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗩𝗲𝗵𝗶𝗰𝗹𝗲 𝗧𝘆𝗽𝗲:

• Hatchback
• Sedan
• Sports Utility Vehicle

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗙𝘂𝗲𝗹 𝗧𝘆𝗽𝗲:

• Gasoline
• Diesel
• Electric

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗣𝗿𝗶𝗰𝗲 𝗥𝗮𝗻𝗴𝗲:

• Entry-Level
• Mid-Level
• High-End
• Ultra

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗥𝗲𝗴𝗶𝗼𝗻:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

𝗔𝘀𝗸 𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗳𝗼𝗿 𝟭𝟬% 𝗳𝗿𝗲𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗲𝗱 𝗿𝗲𝗽𝗼𝗿𝘁: https://www.imarcgroup.com/request?type=report&id=4197&flag=C

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

𝗠𝗲𝗱𝗶𝗮 𝗖𝗼𝗻𝘁𝗮𝗰𝘁:

Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 30 N Gould St Ste R
City: Sheridan
State: WY
Country: United States
Website: https://www.imarcgroup.com/

This release was published on openPR.