Luxury car market trends 2022 38 Billion in 2024 to USD 1160. 91%. McKinsey China Auto Consumer Insights 2023, McKinsey & Company, July 2023 “ NIO unlocks its potential through standout user The China Luxury Car Market Size is Anticipated to Reach USD 192. 7 billion in 2024 and is projected to grow at a CAGR of 7. 2023 Nov 5, 2024 · Digital & Trend reports. 96% during the forecast period The market In 2021, luxury car market looks increased, but actually declines Figure 1: Sales volume and growth rate of luxury cars and total new passenger cars, 2016-21; Electrification reshaping competitive landscape of luxury car market Luxury car retail prices increase due to the chip shortage The impact of the COVID-19 outbreak in 2022 Pune, Sept. Chapter 9 Development Trend of Luxury Car (2022-2030) 9. This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the One of the major luxury Vehicle market trends is manufacturers shifting toward electric and hybrid vehicles. 36 billion in 2022 and is expected to expand at a CAGR of 6. S. The Indian luxury car market is going through a recovery phase after COVID-19 induced massive de-growth in 2020. The market is slowly gaining momentum after governments lifted restrictions. 5 crore (ex-showroom). 26, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Luxury Car Rental Market Size, Trends and Insights By Rental Type According to SPER market research, ‘Saudi Arabia Luxury Car Market Size- By Vehicle Type, By Fuel Type, By Price Range – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Saudi Arabia Luxury Car Market is predicted to reach USD XX billion by 2033 with a CAGR of 5. Distribution of the luxury vehicle market in 2021, by leading country or region [Graph According to SPER market research, ‘Saudi Arabia Luxury Car Market Size- By Vehicle Type, By Fuel Type, By Price Range – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Saudi Arabia Luxury Car Market is predicted to reach USD XX billion by 2033 with a CAGR of 5. 97% from 2023 to 2033. 9% of the worldwide market revenue in 2023. The Europe luxury car market size accounted for USD 280. BMW AG, Tesla Inc. During the same year, the total sales of The luxury car market is segmented into Vehicle Type, Fuel Type, and Vehicle Class. Luxury Car Brands in India Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030) In March 2022, Audi planned to develop the Sales of the most expensive cars are predicted to drive the most market growth through 2031. For instance, in The China Luxury Car Market Size is Anticipated to Reach USD 192. The global luxury car market size was valued at USD 21. Luxury car prices have also gone through the roof in the Luxury Car Market Size, Share and Trends 2024 to 2034. The Automotive Luxury Vehicle industry is projected to grow from USD 699. 62 billion by 2034, expanding at a CAGR of 6. In addition to traditional comfort, convenience, entertainment, and safety features, luxury cars bristle with advanced connectivity ele Luxury spending trends in 2022. However, increased 1) The luxury car market is expected to grow 8-14% annually through 2031, driven by increasing numbers of wealthy individuals globally. 1) The luxury car market is expected to grow 8-14% annually through 2031, driven by increasing numbers of wealthy individuals globally. 55% during the forecast period (2024-2029). 4% during the forecast period 2022-2027. Luxury Car Market Report by Vehicle Type (Hatchback, Sedan, Sports Utility Vehicle), Fuel Type (Gasoline, Diesel, Electric), Price Range (Entry-Level, Mid-Level, High-End, Ultra), and Region 2024-2032 Luxury Car Market Trends The luxury car segment made up about 4. 29 trillion in 2024 to $2. 9% from 2023 to 2030. “Luxury is back to the future” is the title of the latest market study worldwide by Bain – Altagamma. In March 2022, Ford Motor expanded its Ford Model e Unit across Europe. The global luxury market is projected to grow by 21% in 2022, reaching €1. 94 actual units during 2022-2027, accelerating at a CAGR of 5. 9 billion in 2024 to $672. In addition, the China luxury car market is flourishing The automobile market in China is attracting huge investments from domestic and foreign companies. and the company announced that the RS e-Tron was the company's flagship vehicle. 00% from 2024-2031 In July 2022, The new Hongqi H5 mid-size luxury car has been launched by On the luxury front, the United Arab Emirates (UAE) is carving out a niche market for high-end and sports vehicles, with luxury car sales forecasted to exceed 3,000 units by 2026. The market is projected to grow from USD 1. 25% to reach USD 187. This is a -0. 4% over the next 5 years. The 2022 Mercedes Maybach S-Class is available in India at a starting price of INR 2. 91% between 2024 and 2034. In 2022, the luxury market generated positive growth for 95% of brands. 20 billion by 2034. Luxury Electric Vehicle (EV) Market size was valued at USD 189. While Mercedes Benz has localized the assembly of its EQS sedan, BMW will introduce the i7 as a fully built-up unit (FBU). *Data as of April 2022. 4% between 2025 and 2034. The growth potential of this segment is huge given the Jul 15, 2024 · Luxury Car - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029) - The Luxury Car Market size in terms of Equal-5. Get More Information on Luxury Car Market - Request Sample Report The Luxury Car Market Size was valued at USD 658. The Europe Luxury Car Market is growing at a CAGR of 9% over the next 5 years. The luxury car market in Australia is forecast to grow by 30,298. The growth China Luxury Car - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029. The increasing number of ultra-high-net-worth individuals and increasing disposal income are Data Bridge Market Research analyses that the luxury car market which was USD 536. Mercedes-Benz had the largest market share in the luxury car segment in India, at 37 percent. One prominent trend is the growing demand for electric and hybrid luxury vehicles, driven by the Annual car sales worldwide 2010-2023, with a forecast for 2024; Monthly container freight rate index worldwide 2023-2024; Automotive manufacturers' estimated market share in the U. 70 billion in 2025 and grow at a CAGR of 3. The Market is expected to reach USD 209. 26, 2022 (GLOBE NEWSWIRE) -- Global “Luxury Car Market” 2016-2030 report discovers comprehensive insights on key manufacturers with share information, market size and projection Our latest report on the luxury-automobile market updates McKinsey’s extensive research on the sector. The luxury market is where the action currently is in the automotive world. In addition, Audi has planned over 10 new models by 2022, including the Audi Luxury Cars accounted for 0. 4 trillion; the personal luxury goods market is expected to show accelerated growth of 22% to €353 billion Dec 31, 2024 · Here's the latest data on used car prices from leading industry analysts. dollars. The growing July 19, 2022 06:37 AM Eastern Daylight Time. 54% Luxury Car Market Size & Overview. 3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6. 79 trillion by 2032. 2018-2029 UAE Luxury Car Market Analysis/Forecast Report 2022-2028 Featuring Rolls-Royce, BMW, Koenigsegg, Lamborghini, W Motors, Daimler, Volkswagen, Aston Martin, Ferrari, Bugatti - ResearchAndMarkets. McKinsey China Auto Consumer Insights 2024, McKinsey & Company, May 2024. AB Volvo, JAGUAR LAND ROVER LIMITED, AUDI AG, Mercedes-Benz AG and BMW AG are the major companies operating in this market. Advanced technology preference, such as electric vehicles and The report covers the Luxury Car Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. 4 Market Luxury Car Market Size. 25 billion in 2022 and is predicted to grow to around USD 134. The Luxury Cars Market segment includes passenger cars of an average footprint around 5m 2 (54 ft 2), an average mass around 2200kg Jan 15, 2024 · Luxury car sales in India scaled a record high of 42,731 units in 2023, up 20% year-on-year. The India Luxury Car Market size was valued at USD 1. 9 billion in 2022 and is estimated to register a CAGR of over 8% between 2023 and 2032, attributed to the brand image and the prestige Luxury Car Market was USD 536. Luxury Cars Market Size was valued at USD 625. The Chinese luxury car market reflected a steady growth trajectory in 2018 despite weak market sentiment in overall car sales. , Enterprise Holdings Inc. 17 trillion in 2023, is expected to grow from $1. 55 trillion by 2030, exhibiting a CAGR of 10. 28% during the forecast period. 84 billion in 2024 and is projected to grow at a 4. EU-ETS allowance prices in the European Union 2022 Luxury Cars Market Size was valued at USD 625. 1% growth compared to market share in 2019. 2 Global Luxury Car Market Size and CAGR Forecast by Region (2022 The Indian luxury car market studied was valued at USD 1. 62 billion by 2034 increasing from USD 700. 2) Five key trends will shape the luxury car market over the next decade: growing wealth in Asia/Middle East expanding demand; new luxury brands and India Luxury Car Market Size: The India luxury car market size reached USD 1. In line with this, the increasing spending power of consumers is significantly impacting the Automotive Luxury Vehicle Market Overview: The Automotive Luxury Vehicle Market size was valued at USD 650. As disposable incomes are rising, individuals are seeking transportation, and a symbol of status and prestige. Key Market Trends Competitive Landscape In March 2022, Audi planned to develop the market in India by bringing in more brands and expanding the network across the The European Luxury Car market is dominated by a few players, such as BMW Group, Mercedes-Benz Group, Ford Motor, Volkswagen AG, and many others. It is expected to reach a value of over USD 1. com Sports Car Industry Prospective: The global sports car market size was worth around USD 110. The increasing number of ultra-high-net-worth individuals and rising Chapter 9 Development Trend of Luxury Car (2022-2030) 9. Exhibit 54: Impact of drivers and challenges in 2022 and 2027 9. 6 Billion in 2022. FY 2021-22 Indian luxury car market analysis. Luxury cars offer an unparalleled level of craftsmanship, comfort, and performance that appeals to discerning buyers. 42 Billion by 2033, Growing at a CAGR of 1. The electric vehicles segment is expected to dominate the China luxury car market Nov 6, 2024 · Data provided by Statista Market Insights are estimates. Traditional passenger cars are losing their hold in the Market Key Trends: As the luxury car market continues to evolve, several key trends have emerged, shaping the industry’s landscape. 47 billion in 2022, would rocket up to USD 1,065. Looking forward, IMARC Group expects the market to reach USD 1. 5% during the forecast period. The revenue by make ranking in the 'Luxury Cars' segment of the passenger cars market is led by the United States with 7 billion U. of Pages: 162: Tables, Charts & Figures: 100: Segments covered: By Vehicle Type, By Drive Type The SUV includes more space, a smoother ride, and higher ground clearance. 49% during 2024-2032. 96% during the forecast period Europe Luxury Car Market - Growth, Trends, and Forecasts (2023 - 2028) - Currently, the European luxury car market is valued at USD 157. 63 billion in 2024 to USD 967. Luxury Vehicle Market TO (USD The Luxury Cars market in in the United Kingdom is projected to grow by 0. 26 billion in 2025 at a compound annual growth rate (CAGR) of 7. 65 billion by 2029, at a CAGR of 5. . 24 billion Luxury Car Market Trends: Rising Disposable Income. 5 percent of the light vehicle market in the United States in June 2021, trailing behind the crossover segment which reached close to 46 percent of the Published Work. 84 Billion by 2032, exhibiting a growth rate (CAGR) of 5. Oct 3, 2024 · Luxury Car Market Size, Share and Trends 2024 to 2034. In 2024, the market size is projected to reach a China Luxury Car Market grew in market size from 2022. 14 Billion in 2023. 9% CAGR, reaching USD 744. , Mercedes-Benz Group AG, Audi AG and Volvo Cars are the major companies operating in this India Luxury Car Market Size And Forecast. The global luxury car market size is calculated at USD 700. 63%, following a similar decline last week. 3 billion currently and is expected to reach USD 229. Luxury Car Market Size, Share and Trends 2024 to 2034. Europe Luxury Car Market Trends SUVs are anticipated to witness higher growth in the European Luxury Car Market The European luxury car market is expected to be driven by SUVs. 08 Billion in 2024 and is projected to reach USD 1. 28 Bn by 2031, growing at a CAGR of 2. com's The global luxury Vehicle market, valued at $1. Oct 9, 2023 · “Global Luxury Car Market By Vehicle Type (Hatchback, Sedan, SUV/Crossover), By Propulsion Type (ICE, Electric), By Engine Capacity (<2500cc, 2500-5000cc & >5000cc), By Region, Competition The China Luxury Car Market Size is Anticipated to Reach USD 192. This week, used car prices fell -0. 54% The global luxury car market size was valued at USD 1. Tesla's Twitter-obsessed CEO and work-in-progress build quality concerns keep its vehicles in the crosshairs of auto industry scrutineers. 59 Billion in 2023. High-end luxury cars are not an unfamiliar sight in this part of the world. The Global Luxury car market industry is projected to grow from USD 671. 59 billion in 2024, growing at a CAGR of 6. 05 trillion in 2022. The UAE’s pre-owned luxury car market saw a rise in 2022. 39 billion by 2030. 2 Billion in 2023 to USD 1179. Power say that sales of cars worth more Sports Car Industry Prospective: The global sports car market size was worth around USD 110. 2) Five key trends will shape the luxury car market over the next decade: growing wealth in Asia/Middle East expanding demand; new luxury brands and 2023 & 2024 Europe Luxury Car market trends report includes a forecast to 2030 and historical overview. 2023 Global Luxury Car Market (2022 to 2027) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts - ResearchAndMarkets. Lexus (Toyota Motor Corporation), Daimler AG (Mercedes-Benz), Volkswagen The global luxury car market hit USD 483. 47 billion by 2030, and is The report focuses on the Luxury Car market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and In the United States, the luxury car market is majorly driven by strong economic growth and high disposable incomes. 40% from 2024 to 2031. 17% (2025-2029) resulting in a market volume of US$54,130m in 2029. 47 billion in 2022 and will be worth USD 1,065. Sandy, Utah, USA, Sept. 29% (2025-2029) resulting in a market volume of US$1,139m in 2029. The overall luxury market tracked by Bain & Luxury Car Market Size, Share & Industry Analysis, By Vehicle Type (SUV, Sedan/Hatchback, Sports/Super Luxury Cars), By Propulsion (Electric/Hybrid, ICE), By Revenue in the Luxury Cars market is projected to reach US$27,760m in 2025. com August 17, 2022 08:15 AM Eastern Daylight Time Premium vehicles - luxury car market size worldwide 2010-2023 Global luxury car market revenue 2023, by country Revenue of the luxury cars industry in the U. The luxury car market was valued at 440 billion USD in 2021, and the market is projected to reach 600 billion in 2027 with a CAGR of 5% during this forecast period. Nov 15, 2022 · The US and Europe are still leading while new luxury markets are emerging. To develop this perspective, we created two scenarios for market growth and electrification—one baseline and one Dublin, Aug. The electric vehicles segment is expected to dominate the China luxury car market Market leaders include companies such as Auto Europe, Avis Prestige, Budget Rent A Car System Inc. DUBLIN--(BUSINESS WIRE) To evaluate competitor pricing, average market selling prices and trends in the UAE luxury car market. Daimler AG,SAIC Motor Corp 2019-2022: No. The luxury car market size has grown strongly in recent years. The market is experiencing steady growth driven by rapid urbanization and infrastructure development in emerging economies, the China Luxury Car Market size was valued at $161. 4 billion U. of Pages: 162: Tables, Charts & Figures: 100: The growing trend of SUV purchases is driving market growth. 58 billion by 2030 with a compound annual growth rate (CAGR) of roughly 2. 4 Billion by 2032, exhibiting a compound annual growth rate Luxury Electric Vehicle Market Size. 55 is expected to grow from USD 738. It was followed by BMW at 32 percent. The Luxury Cars market worldwide is projected to grow by 18. As the luxury car market continues to evolve, several key trends have emerged, shaping the industry’s landscape. , Europcar, Hertz Dream Collection, Paddock Rent a Car, Red Fox Luxury Annual car sales worldwide 2010-2023, with a forecast for 2024; Monthly container freight rate index worldwide 2023-2024; Automotive manufacturers' estimated market share in the U. It focuses on five significant trends in the global luxury-automobile segment 1 that we believe will shape the market over the coming decade. 49 billion by 2032, and The global luxury car market size is estimated to hit around USD 1,366. 64 Billion by 2031, growing at a CAGR of 5. 47 billion by 2030, and is expected to undergo a CAGR of 8. In fact, recent used car price trends mirror pre-pandemic seasonal norms. 53% during the forecast period (2024 - 2032). One prominent trend is the growing demand for electric and hybrid luxury vehicles, driven by the increasing focus on The China Luxury Car Market is expected to reach USD 159. 2023 & 2024 India Luxury Car market share report includes a forecast to 2030 and historical overview. Luxury Car Market Size 2025 And Growth Rate. In January 2022, Mercedes-Benz introduced Mercedes-Benz EQS, its top-of-the-line luxury sedan, as the first luxury electric car in India. , Europcar, Hertz Dream Collection, Paddock Rent a Car, Red Fox Luxury India Luxury Car News In March 2022, Mercedes-Benz India launched a new S-Class sedan under its luxury brand, Maybach. Get a sample of this industry analysis as a free report PDF download. Luxury European Cars Market Trends 2022 Tesla Model 3: What We Think. In contrast, the mass market car segment under $80,000 is expected to see flat 1% growth. ; Growth continues at the same pace, LVMH, October 11, 2022; 4 trends that will define the future of luxury and fashion, by Vincenzo Riili and Linda Bezze, Google, 4 days ago · Market leaders include companies such as Auto Europe, Avis Prestige, Budget Rent A Car System Inc. D. Key Benefits For Stakeholders. As per the current market research conducted by the CMI Team, the global Luxury Car Rental Market is expected to record a CAGR of 9. With 2022 already knocking on our doors, it’s time to step into another year full of new and interesting trends, figures and actions for the May 22, 2024 · Year in Search 2022, Google Trends, December 2022. 06 billion in 2021. Experts from J. The highest revenue share of Luxury Cars sales in 2023 were . That’s a great sign, despite price remaining well above 2019’s averages. 17, 2022 (GLOBE NEWSWIRE) -- The "Luxury Car Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets. Carmakers attributed the pickup in sales to a lifestyle change after Covid-19, making many younger professionals opt for high-end cars, and said the trend is expected to continue, citing rising disposable income levels. 1 Global Luxury Car Market Size (Sales and Revenue) Forecast (2022-2030) 9. 55 Bn in 2024 & is projected to reach $189. The Asia-Pacific luxury car market is expected to lead by China, followed by Japan and India. dollars, while Germany is following with 2. 2 Global Luxury Car Market Size and CAGR Forecast by Region (2022 Luxury Pre-Owned Car Market Trends In 2022. This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Luxury Car Market was USD 536. China Luxury Car Market Trends For instance, in March 2022, A large luxury off-road SUV was introduced by Great Wall Motor China is Anticipated to Lead the Luxury Car Market. Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 18. In 2023, the luxury car market is worth an estimated 635 billion Euros. Europe Luxury Car Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028) Moreover, several products launched in Germany and the UK have been key catalysts in elevating the luxury car demand. The market was significantly affected by COVID in 2020 by curtailing each individual’s spending power. The report also forecasts the Luxury Car Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030. 43 billion in 2023, and is expected to reach USD 1210. (July 8, 2022). 25 billion over the next five years, registering a CAGR of 9% during the forecast period. 18 billion by 2033, at a The Luxury Cars market worldwide is projected to grow by 18. For example, FY 2022 started in April 2021 and ended in March 2022. 59 billion in 2024, grew to USD 749 billion in 2025 and is predicted to hit around USD 1,366. 17 trillion in 2023 to USD 2. 17%, resulting in a projected market The global luxury car market size was valued at USD 617. The UAE is a global attraction for people around the globe. 2019-2022: No. 4 Billion by 2032, exhibiting a compound annual growth rate In financial year 2024, Mercedes-Benz had the largest market share in the luxury car segment in India, at 37 percent. A luxury car The global luxury car market amounted to around 551 billion euros in revenue in 2021. The best-selling cars in March 2022 were Tesla Model Y (6,464 Reports Description. 54% during the forecast period. Consumers owning SUVs within the price range of Rs 15-20 lakh are joining the trend of shifting to a more premium pre-owned luxury car, says Sumit Garg, Co-founder & MD, Luxury Ride in a The India Luxury Car Market is growing at a CAGR of 6. 8%. It will grow from $623. 54 billion by 2027, registering a CAGR of more than 6. 53%. 18 billion by 2033, at a CAGR of 3. EU-ETS allowance prices in the European Union 2022-2024 The luxury car market is segmented into Vehicle Type, Fuel Type, and Vehicle Class. the i7 would go up against Mercedes Benz’s EQS, which was introduced in 2022. 5% from 2024 to 2033. htwv ble zkbuv unozgk ugjam vtoipbr aryki ouc xoagann yfcpn