Luxury cars is predicted to continue to perform strongly in the forecast period. Demand is likely to be reinforced by strong inputs from existing brands and dealers.
While new product innovations, after-sale services and new touch points are considered key factors in fuelling sales of luxury cars in Thailand, macroeconomic factors are also expected to shape the performance of the category in the forecast period. New laws and excise taxes remain under consideration for imported luxury cars with a value of THB10 million or over in Thailand.
The increasing presence of luxury cars on the road generates greater recognition among consumers. As luxury cars are offered at high price points and are affordable to relatively few consumers, Thailand is likely to witness the burgeoning of auto-loan services and availability of preowned cars in the market.
Mercedes-Benz (Thailand) generates outstanding sales performances within luxury cars. The Mercedes-Benz brand merges its integrated marketing strategies with new product launches to respond to the dynamic demand in the marketplace.
BMW remained the second-ranked brand to Mercedes-Benz in luxury cars in 2017. Despite a change in pricing structure due to the excise tax scheme in Thailand, BMW has taken a further step in adjusting the selling price by providing a variety of packages for customers.
Apart from Mercedes-Benz and BMW, the mainstream luxury car brands in Thailand, a number of dealers and retailers import other branded luxury cars to respond to the demand in the market. Sports and SUV models are gaining popularity among consumers and the offer is increasing from brands like Maserati, Ferrari and Porsche.
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This report originates from Passport, our Luxury Cars research and analysis database.
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