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Learn moreJan 2021
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Sales of premium and luxury cars have been impacted to an extent by the COVID-19 pandemic. This is largely a result of the shutdown of non-essential business at the beginning of the year, international and domestic travel bans and consumers in lockdown; these factors greatly reduced demand for replacement vehicles, notably among corporate fleet buyers and individuals needing to drive for work.
The pandemic appears to have had an interesting effect on the type of premium/luxury car sold in Romania in 2020. Although most consumers are still very much brand focussed, there has been a marked increase in demand for SUVs.
Over the review period, sales of premium and luxury cars have been boosted by the growth in number of high net worth individuals, but strong growth in aspirational consumption from less wealthy consumers has also been a factor. This trend has been supported by the rapid evolution of credit plans offered by financial institutions, allowing these consumers to finance the purchase of premium brands.
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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.
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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.