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Country Report

Luxury Cars in

Luxury Cars in Hong Kong, China

17 pages, Feb 2018

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Improved consumer confidence benefits luxury cars

2017’s GDP growth in Hong Kong was projected to be higher than in 2016, while the strongly performing property market is also boosting the wealth of local consumers. This therefore raised consumers’ confidence to spend, including on luxury cars, which aided the category’s recovery.

Electric cars face legislative roadblock to growth

As of March 2017, the Hong Kong Government slashed the subsidies on electric vehicles, consequently imposing price pressure on consumers and discouraging electric car purchases. Over the forecast period, this legislative move is expected to negatively impact the sales of electric cars in Hong Kong, including Tesla, the most dominant and luxurious electric car model in the city.

COMPETITIVE LANDSCAPE

German brands dominate luxury cars

Mercedes-Benz Hong Kong Ltd led luxury cars in 2016, and recorded a significant increase in value share on the previous year, as affluent consumers continued to favour the brand for its safety and high quality. The E-Class and C-Class remained top selling models in Hong Kong, as consumers favoured the high recognition of these two models, which helped to serve as status symbols for affluent consumers.

Changes in tax support of electric cars to significantly impact Tesla

Tesla Motors Inc was the second strongest player in terms of gaining value share in 2016, overtaking Porsche (China) Motors Ltd as the third leading player in luxury cars. Tesla cars rapidly caught consumers’ interest over the review period, as an increasing number of consumers embraced electric cars for a greener environment.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Hong Kong, China with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Cars industry in Hong Kong, China, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in Hong Kong, China market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Cars in Hong Kong, China?
What are the major brands in Hong Kong, China?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our

Luxury Goods market research database.

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Luxury Cars in Hong Kong, China - Category analysis

HEADLINES

PROSPECTS

Improved consumer confidence benefits luxury cars

Electric cars face legislative roadblock to growth

COMPETITIVE LANDSCAPE

German brands dominate luxury cars

Changes in tax support of electric cars to significantly impact Tesla

CATEGORY DATA

Table 1 Sales of Luxury Cars: Value 2012-2017
Table 2 Sales of Luxury Cars: % Value Growth 2012-2017
Table 3 NBO Company Shares of Luxury Cars: % Value 2012-2016
Table 4 LBN Brand Shares of Luxury Cars: % Value 2013-2016
Table 5 Forecast Sales of Luxury Cars: Value 2017-2022
Table 6 Forecast Sales of Luxury Cars: % Value Growth 2017-2022

Luxury Goods in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

MARKET INDICATOR

Table 7 Number of High Net Worth Individuals (HNWI): 2012-2017

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2012-2017
Table 9 Sales of Luxury Goods by Category: % Value Growth 2012-2017
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2017
Table 11 NBO Company Shares of Luxury Goods: % Value 2012-2016
Table 12 LBN Brand Shares of Luxury Goods: % Value 2013-2016
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2017
Table 14 Forecast Sales of Luxury Goods by Category: Value 2017-2022
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2017-2022

Megatrends

Country Report

Luxury Cars in Hong Kong, China

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Improved consumer confidence benefits luxury cars

Electric cars face legislative roadblock to growth

COMPETITIVE LANDSCAPE

German brands dominate luxury cars

Changes in tax support of electric cars to significantly impact Tesla

Overview

Why buy this report?

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Overview

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Table of Contents

Luxury Cars in Hong Kong, China - Category analysis

HEADLINES

PROSPECTS

Improved consumer confidence benefits luxury cars

Electric cars face legislative roadblock to growth

COMPETITIVE LANDSCAPE

German brands dominate luxury cars

Changes in tax support of electric cars to significantly impact Tesla

CATEGORY DATA

Luxury Goods in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Recovery in tourist arrivals and economic conditions benefit luxury goods

Luxury goods rebounds to positive growth during 2017

Luxury goods players emphasise consumer engagement

Internet retailing remains a small channel

Luxury goods to grow positively, though challenges remain

MARKET INDICATOR

MARKET DATA

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