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Country Report

Luxury Cars in

Luxury Cars in the United Kingdom

Feb 2019

US$990

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Executive Summary

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PROSPECTS

A sluggish performance in 2018

In 2017, luxury cars in the UK saw sales growth weaken in current value terms after seven consecutive years of double-digit growth; this slowdown continued to an even greater extent in 2018, only just remaining in positive territory. This reflected the ongoing uncertainty surrounding Brexit negotiations, which impacted demand for cars across all price points.

Luxury cars set to outperform amidst the weak UK car market overall

However, luxury cars is expected to return to better growth after 2018, in part because of the growing higher-income population, and also due to stricter taxes on older diesel cars, which will boost the uptake of newer models. Also influencing sales are attractive automotive financing options that base interest payments on the depreciated value of the vehicle and reward buyers of vehicles that appreciate in value over the term of the loan.

The expanding base of high-net worth individuals will boost demand

Whilst newer automotive financing options will indeed make luxury cars more accessible to middle-income consumers, the vast majority of sales will continue to be attributed to high net-worth individuals (HNWIs). Thus, forecast growth in luxury cars in the UK will be fuelled by demand from an expanding pool of HNWIs; buyers who have demonstrated a growing appetite for supercars from brands such as Bugatti and Ferrari.

COMPETITIVE LANDSCAPE

Tesla outperforms the rest

In 2017, Tesla Motors recorded its best year of sales of luxury cars since it began trading in the UK in 2010. As one of the first manufacturers to launch a fully electric luxury vehicle, Tesla is positioned in a very distinct segment of the market compared with the majority of its luxury peers, garnering a significant amount of attention for its launches.

German manufacturers dominate luxury cars

Despite the recent emissions scandal, German car manufacturers continue to dominate luxury cars in the UK, with Mercedes-Benz, Audi and BMW remaining the top three luxury car brands in value terms in 2017. With the exception of BMW, all other German manufacturers gained value share.

Leading German manufacturers will move quickly into high-end electric cars

Over the forecast period, German car manufacturers are expected to innovate to tap into the UK’s rapidly expanding luxury electric cars market. In 2018, Volkswagen began US production of its fully electric SUV, the e-tron, with UK sales likely to begin by 2019.

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Overview

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in United Kingdom 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 United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Cars in United Kingdom 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 United Kingdom?
What are the major brands in United Kingdom?

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 the United Kingdom - Category analysis

HEADLINES

PROSPECTS

A sluggish performance in 2018

Luxury cars set to outperform amidst the weak UK car market overall

The expanding base of high-net worth individuals will boost demand

COMPETITIVE LANDSCAPE

Tesla outperforms the rest

German manufacturers dominate luxury cars

Leading German manufacturers will move quickly into high-end electric cars

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 the United Kingdom - Industry Overview

EXECUTIVE SUMMARY

Luxury remains resilient amidst political uncertainty

Brexit looms, but millennials prevent gloom

Conspicuous consumption online encourages traditional brands to modernise

Internet retailing is rapidly becoming a necessity for brands, not a choice

Digitisation paves the road ahead

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 the United Kingdom

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Executive Summary

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PROSPECTS

A sluggish performance in 2018

Luxury cars set to outperform amidst the weak UK car market overall

The expanding base of high-net worth individuals will boost demand

COMPETITIVE LANDSCAPE

Tesla outperforms the rest

German manufacturers dominate luxury cars

Leading German manufacturers will move quickly into high-end electric cars

Overview

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Overview

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Table of Contents

Luxury Cars in the United Kingdom - Category analysis

HEADLINES

PROSPECTS

A sluggish performance in 2018

Luxury cars set to outperform amidst the weak UK car market overall

The expanding base of high-net worth individuals will boost demand

COMPETITIVE LANDSCAPE

Tesla outperforms the rest

German manufacturers dominate luxury cars

Leading German manufacturers will move quickly into high-end electric cars

CATEGORY DATA

Luxury Goods in the United Kingdom - Industry Overview

EXECUTIVE SUMMARY

Luxury remains resilient amidst political uncertainty

Brexit looms, but millennials prevent gloom

Conspicuous consumption online encourages traditional brands to modernise

Internet retailing is rapidly becoming a necessity for brands, not a choice

Digitisation paves the road ahead

MARKET INDICATORS

MARKET DATA

SOURCES

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