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Country Report

Luxury Cars in

Luxury Cars in Hong Kong, China

Feb 2019

US$990

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Executive Summary

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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

Luxury cars offers up bright future

Luxury cars witnessed double-digit current value growth in 2017, with it showing strong signs of a recovery after a sharp decline in 2016. This growth was largely attributed to a recovery in consumer confidence.

Electric vehicles are the future

With heavy demand for electric vehicles, Hong Kong’s government has re-introduced subsidies for electric vehicles. Its “One to One Replacement” Scheme was introduced in Feb 2018, with it expected to be reviewed in 2021, with the new scheme helping consumers to save up to HKD250,000 in tax when they trade in their existing vehicle.

COMPETITIVE LANDSCAPE

Increasing competition within luxury electric vehicles

Tesla has been the leader within electric vehicles in Hong Kong since its arrival in 2012. During the review period, despite legislative roadblocks, Tesla saw impressive growth and it is expected to continue seeing strong growth over the forecast period.

Continued consolidation of dealerships

Hong Kong has a unique market feature whereby car manufacturers often work exclusively with a dealership due to its vast distribution network, resulting in a highly consolidated market. For example, Zung Fu Company is exclusively responsible for the sale of Mercedes-Benz vehicles in Hong Kong, while BMW has an exclusive relationship with Sime Darby in Hong Kong under the subsidiary BMW Concessionaries Hong Kong.

Porsche on the rise

Porsche was one of the most dynamic brands within luxury cars at the end of the review period with it benefiting from the successful launches of new vehicles such as the new Porsche Cayenne in 2018 and the new Porsche Panamera in 2017. Furthermore, in 2017 the state-of-the-art Porsche Body & Paint Centre was opened in Hong Kong which will help provide a superior level of after-service as well as building brand loyalty and trust with owners able to have their Porsche serviced by highly-trained technicians using the latest tools.

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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

Luxury cars offers up bright future

Electric vehicles are the future

COMPETITIVE LANDSCAPE

Increasing competition within luxury electric vehicles

Continued consolidation of dealerships

Porsche on the rise

CATEGORY DATA

Table 1 Sales of Luxury Cars: Value 2013-2018
Table 2 Sales of Luxury Cars: % Value Growth 2013-2018
Table 3 NBO Company Shares of Luxury Cars: % Value 2013-2017
Table 4 LBN Brand Shares of Luxury Cars: % Value 2014-2017
Table 5 Forecast Sales of Luxury Cars: Value 2018-2023
Table 6 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Luxury Goods in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Luxury goods continues its recovery

Consumer confidence returns

Electric cars and “The China Dream” influence demand

Internet retailing gains interest

Positive outlook for luxury goods despite challenges

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2013-2018
Table 9 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 11 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 12 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 14 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Megatrends

Country Report

Luxury Cars in Hong Kong, China

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Luxury cars offers up bright future

Electric vehicles are the future

COMPETITIVE LANDSCAPE

Increasing competition within luxury electric vehicles

Continued consolidation of dealerships

Porsche on the rise

Overview

Why buy this report?

Samples

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Overview

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Table of Contents

Luxury Cars in Hong Kong, China - Category analysis

HEADLINES

PROSPECTS

Luxury cars offers up bright future

Electric vehicles are the future

COMPETITIVE LANDSCAPE

Increasing competition within luxury electric vehicles

Continued consolidation of dealerships

Porsche on the rise

CATEGORY DATA

Luxury Goods in Hong Kong, China - Industry Overview

EXECUTIVE SUMMARY

Luxury goods continues its recovery

Consumer confidence returns

Electric cars and “The China Dream” influence demand

Internet retailing gains interest

Positive outlook for luxury goods despite challenges

MARKET INDICATORS

MARKET DATA

SOURCES

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