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The luxury cars industry saw a slow start during Q1 of 2020, compared to the same period in the previous year, as demand declined due to shaken consumer income and spending growth. This led to a strong drop in new car registrations in the country.
Luxury car manufacturers have been significantly impacted by consumers and companies growing interest in electric vehicles, seen to offer luxury and greener driving. Despite the outbreak of COVID-19, the industry has continued to increase in sales and registrations of new electric cars in 2020, including premium models such as the Porsche Taycan.
German brands have kept their leading positions in the luxury cars market, led by Daimler's Mercedes Benz. However, value sales were strongly challenged due to the pandemic, forcing manufacturers to readjust their operations and cut jobs, prioritising their investments and focus on higher-value brands.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Cars industry in Germany with research from Euromonitor's team of in-country analysts.
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If you're in the Luxury Cars industry in Germany, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.