Despite the fact that premium and luxury cars have already returned to the pre-pandemic level of sales, retail volume and current value growth are expected to continue throughout the forecast period. However, growth is set to become more moderate on a year-on-year basis over the forecast period.
Sustainability is expected to play a continuously growing role in the choice of luxury cars over the forecast period; sustainable production and logistics will be almost as important as eco-friendly features such as offering hybrid or electric fuel functions or being more fuel efficient. In light of international oil and fuel price rises, fuel efficiency is set to play an increasingly important role in general.
With a stronger focus on e-commerce sales during the COVID-19 pandemic, from both consumers and retailers, store-based retailers will have to increase their value to keep customers loyal. New technologies and online services allow consumers to configure and order cars entirely through e-commerce, with additional consultations via chat or phone if needed.
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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 Tesla
See All of Our DefinitionsThis report originates from Passport, our Luxury Cars research and analysis database.
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