Following the challenging first two years of the pandemic, premium and luxury cars is set to return to growth in 2022. With the removal of pandemic-related restrictions during 2022, higher growth is expected in the early years of the forecast period as pent-up demand is released and postponed purchases made.
Following the great strides made by Mercedes-Benz on the electric vehicles front by 2022, 2023 onwards is poised to be much more electric-oriented for luxury cars. Daimler has announced its intention to produce significantly more electric cars, and by 2024 it aims to expand the EQ series offering in the upper-class and higher-end segment to six models.
The price of a typical model from BMW, Mercedes-Benz, or Audi has been climbing significantly in 2022, and this trend is set to continue into the forecast period, which will also result in some consumers struggling to purchase new premium and luxury cars. Nonetheless, there are a lot of developments in the area of financing.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in Germany 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 Tesla
See All of Our DefinitionsThis report originates from Passport, our Luxury Cars research and analysis database.
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