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Country Report

Luxury Cars in

Premium and Luxury Cars in Romania

Jan 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Improving demand for luxury cars supported by rising number of HNWI

Premium and luxury cars experienced a fluctuating performance throughout much of the review period in Romania, as sales are intrinsically linked to macroeconomic pressures. However, 2019 witnessed increasing demand as the country’s economy continued to strengthen, leading to rising higher disposable incomes and the growing number of high net worth individuals in the country.

Aspirational consumers support demand for premium cars, although upper-tier luxury models experience slowdown towards end of the year

The penetration of personal cars continued to increase in Romania at the end of the review period. However, while ownership of premium quality cars experienced a significant increase amongst aspirational consumers, a certain down-trading trend was noticed amongst high-end luxury cars.

Marginal decline predicted with increasing interest in second-hand luxury models

A range of factors can influence the performance of premium and luxury cars in Romania, which are likely to impact demand for the category over the forecast period as retail volume sales are set to record marginal decline. These include high import tariffs, rising fuel prices and the increasing number of imports of second-hand luxury cars.

COMPETITIVE LANDSCAPE

Convincing leadership for Mercedes-Benz despite some loss of share and sales

Mercedes-Benz, owned by Daimler AG, retained its convincing leadership of premium and luxury cars in Romania in 2018, although it continued to lose some ground to its nearest competitor BMW. Nevertheless, the brand is characterised by, and appreciated, for its perfectionism.

Leading brands most coveted within second-hand market

Competition from pre-owned luxury cars is likely to be more strongly felt over the forecast period, despite a consistent rise in the number of high net worth individuals in Romania. This is a particularly attractive option for consumers who aspire to own top of the range models from globally renowned brands such as Mercedes-Benz, Audi and BMW.

Nascent segment of luxury electric cars could see stronger growth with government support

With increasing concerns regarding the environmental impact of diesel and petrol cars, in addition to the high import tariffs of fuel-based models, the wealthiest consumers are in a stronger position to invest in luxury electric cars. Although this demand was low at the end of the review period, and mainly serviced by Tesla, which recorded triple-digit current value growth in 2018, the Romanian government is offering substantial financing to consumers who are considering the purchase of an electric car, which is likely to have a positive impact on this nascent segment.

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Overview

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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.

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Overview

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

The Luxury Cars in Romania 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 Romania?
What are the major brands in Romania?

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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Premium and Luxury Cars in Romania - Category analysis

HEADLINES

PROSPECTS

Improving demand for luxury cars supported by rising number of HNWI

Aspirational consumers support demand for premium cars, although upper-tier luxury models experience slowdown towards end of the year

Marginal decline predicted with increasing interest in second-hand luxury models

COMPETITIVE LANDSCAPE

Convincing leadership for Mercedes-Benz despite some loss of share and sales

Leading brands most coveted within second-hand market

Nascent segment of luxury electric cars could see stronger growth with government support

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2014-2019
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024

Luxury Goods in Romania - Industry Overview

EXECUTIVE SUMMARY

Number of positive factors influences performance of luxury goods in Romania

Counterfeiting is a major barrier to stronger growth potential for luxury goods

High fragmentation for personal luxury creates intense competitive landscape with high fluidity

Poor infrastructure of Bucharest’s shopping streets encourages purchases abroad and the emergence of internet retailing

Mixed performance for luxury goods over the forecast period

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2014-2019
Table 9 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 11 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 12 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 14 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources

Luxury Goods in Romania - Industry Overview

EXECUTIVE SUMMARY

Number of positive factors influences performance of luxury goods in Romania

Counterfeiting is a major barrier to stronger growth potential for luxury goods

High fragmentation for personal luxury creates intense competitive landscape with high fluidity

Poor infrastructure of Bucharest’s shopping streets encourages purchases abroad and the emergence of internet retailing

Mixed performance for luxury goods over the forecast period

MARKET INDICATORS

Table 16 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 17 Sales of Luxury Goods by Category: Value 2014-2019
Table 18 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 19 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 20 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 21 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 22 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 23 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 24 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

Megatrends

Country Report

Premium and Luxury Cars in Romania

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Executive Summary

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PROSPECTS

Improving demand for luxury cars supported by rising number of HNWI

Aspirational consumers support demand for premium cars, although upper-tier luxury models experience slowdown towards end of the year

Marginal decline predicted with increasing interest in second-hand luxury models

COMPETITIVE LANDSCAPE

Convincing leadership for Mercedes-Benz despite some loss of share and sales

Leading brands most coveted within second-hand market

Nascent segment of luxury electric cars could see stronger growth with government support

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in Romania - Category analysis

HEADLINES

PROSPECTS

Improving demand for luxury cars supported by rising number of HNWI

Aspirational consumers support demand for premium cars, although upper-tier luxury models experience slowdown towards end of the year

Marginal decline predicted with increasing interest in second-hand luxury models

COMPETITIVE LANDSCAPE

Convincing leadership for Mercedes-Benz despite some loss of share and sales

Leading brands most coveted within second-hand market

Nascent segment of luxury electric cars could see stronger growth with government support

CATEGORY DATA

Luxury Goods in Romania - Industry Overview

EXECUTIVE SUMMARY

Number of positive factors influences performance of luxury goods in Romania

Counterfeiting is a major barrier to stronger growth potential for luxury goods

High fragmentation for personal luxury creates intense competitive landscape with high fluidity

Poor infrastructure of Bucharest’s shopping streets encourages purchases abroad and the emergence of internet retailing

Mixed performance for luxury goods over the forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

Luxury Goods in Romania - Industry Overview

EXECUTIVE SUMMARY

Number of positive factors influences performance of luxury goods in Romania

Counterfeiting is a major barrier to stronger growth potential for luxury goods

High fragmentation for personal luxury creates intense competitive landscape with high fluidity

Poor infrastructure of Bucharest’s shopping streets encourages purchases abroad and the emergence of internet retailing

Mixed performance for luxury goods over the forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

Why buy this report?

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