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May 15, 2019, 5:04 a.m. EDT

Luxury Vehicles Market Size to surge at 6.3% CAGR Poised to Touch USD 611300 Million by 2024

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May 15, 2019 (Heraldkeeper via COMTEX) -- Luxury vehicles is the vehicle of luxury brands, like Mercedes-Bens, Audi, BMW, Volvo, Lexus and so on.

The three German players BMW, Audi and Mercedes-Benz account for approximately 70% share of the global luxury car market. Mercedes-Benz is the global leader in the luxury car segment, followed by BMW and Audi. World over while mass automobile manufacturers are struggling with margins, high end manufacturers are enjoying steadily increasing sales.

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In the United States luxury car market, over the past few years, it is the crossovers and SUVs, which have been experiencing growth in sales. In 2016, the two leading players in the market, Mercedes-Benz and Lexus did not see any of its non-SUV models experience growth in sales. Demand for luxury cars in Europe had been at a low for nearly two decades and started recovering gradually from 2014. Even though challenging economic conditions still prevail in many European markets, players such as BMW have been able to maintain volumes of their higher end models. In 2017, the luxury car segment in China is seeing strong growth.

The millionaires in China increased by 10% in 2016 year-on-year. Despite the government’s austerity drive, sales of super-luxury and supercar sales have not slowed down in China.
In terms of vehicle type, SUVs contributed most in the growth of global luxury vehicle market, with average growth rate of 14% during last five year. Super sport car, usually cost for over $150 thousand, also will witness the very high fast growth rate in the next 6 year, even though, only occupy less than 1% market share in 2016.

The Luxury Vehicles market research study is basically a gist of the preface of this business space that elaborates on the parameters of consumption value and volume as well as the identification of numerous subsegments in this industry. Alongside, the study also includes detailed information regarding the pivotal factors influencing the growth of the Luxury Vehicles market as well as challenges and risks prevailing across this vertical.

Key questions answered in the report:

The segmentation of the Luxury Vehicles market:

  • Which among the product types of Compact Car, Mid-size Car, Full-size Car, Larger Car, SUV/Crossover and Super Sport Car is slated to accumulate the maximum returns by the end of the forecast period?

  • How much is the remuneration of each product type currently and what is the revenue that every segment is projected to procure?

  • What is the consumption growth rate and sales price of each of those products over the estimated period?

  • How much market share is presently accumulated by the application segments of Financing/Loan, Cash Payment and Leasing?

  • What is the forecast valuation of each of the application types over the estimated duration?

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The competitive landscape of the Luxury Vehicles market:

  • Who are the top competitors in Luxury Vehicles market?

  • Which among the firms of Mercedes Benz, BMW, Audi, Lexus, Volvo, Land Rover, MINI, Cadillac, Porsche, Infiniti, Acura, Jaguar, Smart, Lincoln, Tesla, Maserati, Bentley, Ferrari, Rolls-Royce, Lamborghini, McLaren and Aston Martin are estimated to be the top-notch contenders of the Luxury Vehicles market Share?

A regional overview of the Luxury Vehicles market:

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