Retail sales of premium and luxury cars are expected to increase at a current value CAGR of 9% (6% 2022 constant value CAGR) over 2023-2028 to total CNY2.6 trillion.
Rising online sales are expected within premium and luxury cars in China over the forecast period. Essential items are already bought online, but big-ticket items such as cars are also now being bought online, with this trend set to continue.
Electric cars are likely to rise in importance within premium and luxury cars over 2023-2028. China is taking over the world in sales of luxury EVs (electric vehicles), thanks to strong government stimulus, technological improvement, and a shift in consumer preference.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and TeslaSee All of Our Definitions
This report originates from Passport, our Luxury Cars research and analysis database.
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