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Country Report

Luxury Cars in

Premium and Luxury Cars in Russia

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

Ongoing instability in the local economy leads to fluctuating performance for premium and luxury cars due to their huge investment

Despite the fact that premium and luxury cars only target the most affluent consumers in Russia, the category experienced fluctuating demand over the review period, with notable declines from 2015-2017, in line with the economic recession in the country. Local currency exchange rates continued to be volatile as a result, impacting consumers’ purchasing decisions.

SUVs and crossover models popular for wealthy families on long journeys and as status symbols in major cities

There was a notable trend towards the end of the review period for affluent consumers to invest in new crossover and SUV models such as Lamborghini Urus, the new Land Rover Range Rover Sport, Audi Q8 and Volkswagen Touareg. The popularity of these types of luxury cars is supported by Russia’s poor roads, and challenging terrain in certain areas of the country.

Quota basis system and requirement for ERA-GLONASS complicates importing of premium and luxury cars for car dealers

The quota basis on how luxury car dealerships work in Russia, dictates the ordering and receiving of limited numbers of cars each year, with a dealership’s allocation mainly depending on previous sales results. However, the introduction of a new requirement in 2017 to install the Russian satellite tracking system, ERA-GLONASS, in each new car imported into Russia has complicated this system, adding difficulties to the import of luxury cars.

COMPETITIVE LANDSCAPE

German brands continue to benefit from popularity amongst affluent Russians

German brands Mercedes-Benz and BMW continued to lead premium and luxury cars in Russia, consolidating their positions in 2018 by offering a range of different high-end models that continue to appeal to local affluent consumers. Overall leader Mercedes-Benz recorded the most impressive performance gaining strong value share and double-digit current value growth, following the launch of new additions to its classic ranges in 2018 including its E-Class Cabriolet, S-Class S 450 and S 560 and AMG GT C Coupe, as the brand looked to address all possible niche areas of luxury cars, providing wealthy consumers with unique options.

Moscow enjoys being part of Bentley’s 100th anniversary events around the world

As part of a number of anniversary events held around the world in 2019, the residence of the British Ambassador in Moscow was chosen to celebrate the 100th anniversary of the brand’s creation. The Great Bentley Evening gala dinner was organised by the official Bentley Moscow dealer, which in turn was celebrating its 15th anniversary.

Collaborations between luxury brands are mutually beneficial

Lamborghini launched its latest model, the Lamborghini Huracán EVO sports car, on 24 June 2019 at the Moscow Raceway, featuring the participation of instructors from the Lamborghini Squadra Corse racing division. The event included races, while wealthy guests were able to personally experience the latest generation model, which includes a dynamic V10 engine.

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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 Russia 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 Russia, our research will save you time and money while empowering you to make informed, profitable decisions.

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

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 Russia - Category analysis

HEADLINES

PROSPECTS

Ongoing instability in the local economy leads to fluctuating performance for premium and luxury cars due to their huge investment

SUVs and crossover models popular for wealthy families on long journeys and as status symbols in major cities

Quota basis system and requirement for ERA-GLONASS complicates importing of premium and luxury cars for car dealers

COMPETITIVE LANDSCAPE

German brands continue to benefit from popularity amongst affluent Russians

Moscow enjoys being part of Bentley’s 100th anniversary events around the world

Collaborations between luxury brands are mutually beneficial

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 Russia - Industry Overview

EXECUTIVE SUMMARY

Positive but slower demand for luxury goods due to unstable economy but buoyed by increases in HNWI and foreign visitors

Demand from younger affluent Russians influence new concepts in marketing

High fragmentation for competitive landscape of personal luxury, led by global fashion brands

Department stores and internet retailing continue to gain share from traditional specialists

Strong improvement for most luxury goods over forecast period, supported by ongoing rise in number of affluent Russians and inbound receipts

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

Megatrends

Country Report

Premium and Luxury Cars in Russia

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Executive Summary

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PROSPECTS

Ongoing instability in the local economy leads to fluctuating performance for premium and luxury cars due to their huge investment

SUVs and crossover models popular for wealthy families on long journeys and as status symbols in major cities

Quota basis system and requirement for ERA-GLONASS complicates importing of premium and luxury cars for car dealers

COMPETITIVE LANDSCAPE

German brands continue to benefit from popularity amongst affluent Russians

Moscow enjoys being part of Bentley’s 100th anniversary events around the world

Collaborations between luxury brands are mutually beneficial

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in Russia - Category analysis

HEADLINES

PROSPECTS

Ongoing instability in the local economy leads to fluctuating performance for premium and luxury cars due to their huge investment

SUVs and crossover models popular for wealthy families on long journeys and as status symbols in major cities

Quota basis system and requirement for ERA-GLONASS complicates importing of premium and luxury cars for car dealers

COMPETITIVE LANDSCAPE

German brands continue to benefit from popularity amongst affluent Russians

Moscow enjoys being part of Bentley’s 100th anniversary events around the world

Collaborations between luxury brands are mutually beneficial

CATEGORY DATA

Luxury Goods in Russia - Industry Overview

EXECUTIVE SUMMARY

Positive but slower demand for luxury goods due to unstable economy but buoyed by increases in HNWI and foreign visitors

Demand from younger affluent Russians influence new concepts in marketing

High fragmentation for competitive landscape of personal luxury, led by global fashion brands

Department stores and internet retailing continue to gain share from traditional specialists

Strong improvement for most luxury goods over forecast period, supported by ongoing rise in number of affluent Russians and inbound receipts

MARKET INDICATORS

MARKET DATA

SOURCES

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