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Country Report

Luxury Cars in

Premium and Luxury Cars in South Africa

Feb 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

Economic woes keep sales plummeting in luxury cars

Luxury cars experienced another tough year in 2019. The reason for plummeting sales can be attributed to low consumer confidence amid economic uncertainty, with real GDP growth down to a trickle.

The wealthy are putting a plan B in place, threatening luxury sales further

Consumers are showing a tendency to cut down their spending on cars as they prioritise other long-term goals. In 2019, there was a record number of South Africans applying for second passports and residencies, especially in European countries.

Struggling performance likely to continue amid slow economic recovery

The anaemic economic situation, characterised by rising unemployment, higher income taxes, restricted access to credit and marginal recovery from recession are having an impact on consumer behaviour. The weakening of the rand against major currencies is adding upward pressure to unit prices.

COMPETITIVE LANDSCAPE

Variety in car range and price keep the leaders in the driving seat

Almost all retail value sales of luxury cars are accounted for by the leading four brands, namely Mercedes-Benz, BMW, Audi and Land Rover. The success of the top four brands lies in the fact that they have a wider product offering with more varied model ranges at different price points, even within their luxury range.

SUVs gain traction

There is a growing trend towards SUVs, not only for the aesthetic appeal but also because these cars provide more comfort thanks to their spaciousness, improved safety as they sit higher on the road, and versatility in terms of off-road capabilities. South Africa offers unique natural scenery and landscapes but these are often inaccessible because of poor road networks.

The institutional channel also drives sales

Institutional purchases, eg from the government and corporate sectors, boosts demand for some luxury car brands. Historically, the South African government has spent millions on luxury cars for its top-ranking officials, although there is currently a shift in spending with the present government.

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Overview

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.

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Files are delivered directly into your account within a few minutes of purchase.

Overview

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

The Luxury Cars in South Africa 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 South Africa?
What are the major brands in South Africa?

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 South Africa - Category analysis

HEADLINES

PROSPECTS

Economic woes keep sales plummeting in luxury cars

The wealthy are putting a plan B in place, threatening luxury sales further

Struggling performance likely to continue amid slow economic recovery

COMPETITIVE LANDSCAPE

Variety in car range and price keep the leaders in the driving seat

SUVs gain traction

The institutional channel also drives sales

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 South Africa - Industry Overview

EXECUTIVE SUMMARY

A challenging year for luxury goods as economic, competitive and consumer pressures intensify

Luxury goods loses its spark as prices are prioritised

Potential remains for high growth once economy fully recovers

The crowds still head for the multi-brand stores

Sales recovery is expected, while luxury will be redefined by modern lifestyle trends

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 South Africa

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Executive Summary

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PROSPECTS

Economic woes keep sales plummeting in luxury cars

The wealthy are putting a plan B in place, threatening luxury sales further

Struggling performance likely to continue amid slow economic recovery

COMPETITIVE LANDSCAPE

Variety in car range and price keep the leaders in the driving seat

SUVs gain traction

The institutional channel also drives sales

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in South Africa - Category analysis

HEADLINES

PROSPECTS

Economic woes keep sales plummeting in luxury cars

The wealthy are putting a plan B in place, threatening luxury sales further

Struggling performance likely to continue amid slow economic recovery

COMPETITIVE LANDSCAPE

Variety in car range and price keep the leaders in the driving seat

SUVs gain traction

The institutional channel also drives sales

CATEGORY DATA

Luxury Goods in South Africa - Industry Overview

EXECUTIVE SUMMARY

A challenging year for luxury goods as economic, competitive and consumer pressures intensify

Luxury goods loses its spark as prices are prioritised

Potential remains for high growth once economy fully recovers

The crowds still head for the multi-brand stores

Sales recovery is expected, while luxury will be redefined by modern lifestyle trends

MARKET INDICATORS

MARKET DATA

SOURCES

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