Improving demand for premium and luxury cars in 2021 and 2022 was driven by dealerships and greater business confidence, and the fact that with an easing of restrictions, an increasing number of companies have reopened with staff being asked to return to work. With the increasing need for mobility and fewer remote working measures in place in addition to a poor public transport system, local consumers have been investing in their own transport.
Electric cars are expected to remain on a positive growth trajectory in South Africa as key players continue to market and introduce new models to the local market. The key factor is to educate consumers about electric vehicles and familiarise them with some of their advantages.
Retail value sales of premium and luxury cars are dominated by the leading four brands in South Africa, namely BMW (which gained overall leadership in 2021), Mercedes-Benz, Audi and Land Rover. These brands continue to offer a wide range of premium and luxury cars to cater for different price points in the luxury segment.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and TeslaSee All of Our Definitions
This report originates from Passport, our Luxury Cars research and analysis database.
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