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Luxury Car Market Stood at 8 Million Unit Sales in 2018

Automotive | Aug, 2020

 Growing customer interest towards customized and safety vehicles to drive global luxury car market through 2024.

According to Global Databooks report, “Global Luxury Car Market, By Vehicle Type, By Fuel Type, By Engine Capacity, By Company, Competition, Forecast & Opportunities, 2024”, the global luxury car market is expected to grow at an estimated CAGR of 4% during 2019-2024 due to growing demand for high-end vehicles with advanced features such as accident avoidance systems, double staked infotainment systems and TPMS equipped tires. Moreover, growing disposal income and increasing proliferation of high horse power vehicles are expected to boost global luxury car market in coming years.

Global luxury car market can be segmented based on vehicle type, fuel type, and region. Based on vehicle type, market can be segregated into hatchback, sedan, SUV, and others. Sedan cars accounted for significant share in 2018 due to is better acceleration & stopping, fuel economy and other features. In terms of fuel type, market can be segregated into diesel, petrol, electric, and others in which petrol segment captured majority share in 2018 and trend is likely to continue in forecast years due to its efficient performance.

Report URL : https://www.globaldatabooks.com/report/global-hybrid-electric-powertrain-market/529.html

Mercedes, BMW, Audi, Toyota, Honda, Passat, among others are leading players operating in the global luxury car market. Major companies are adopting strategies such as mergers and acquisitions, product launches, investment in R&D to boost their share in the competitive market.

“Europe dominated global luxury car market in 2018 due to presence of major players, growing production and sales. Moreover, early adoption of advanced technologies and growing customer interest towards electric vehicles is projected to promote luxury car market through 2024. On the other hand, APAC region is expected to grow at impressive rate until 2024 due to booming popularity of high-speed cars and surging per capita income.”, said Mr. Karan Chechi, Research Director with Global Databooks, a research based global management consulting firm.

“Global Luxury Car Market, By Vehicle Type, By Fuel Type, By Engine Capacity, By Company, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global luxury car market and provide statistics & information on market size, structure and future market growth. Report provides cutting-edge market intelligence and help investors to make proper decisions. Besides, the report also identifies and analyzes the merging trends along with essential drivers, challenges and opportunities in the global luxury car market.

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