The population of wealthy consumers is expected to increase in the United Arab Emirates over the course of the forecast period, which is likely to have a positive impact on sales of premium and luxury cars in the country. Furthermore, as travel restrictions and COVID-19 social distancing measures ease, consumer spending on luxury cars is expected to increase, especially as the number of expatriates or residents increases.
Many companies in premium and luxury cars will continue to enhance their services and products through digitalisation in order to increase the presence and capacity of their retail operations. Showing their offering online, being connected to consumers through multiple channels, and having a presence online and in-store are expected to continue to make the shopping experience seamless.
Many brands of premium and luxury cars, including BMW and Mercedes-Benz, deferred the launch of new products as a result of the pandemic, but over the forecast period new releases will contribute to the rise in consumer interest in premium and luxury cars. In the long term, it is anticipated that brands will aim to capitalise on the positive macroeconomic outlook in the United Arab Emirates, as the population of ultra-rich consumers continues to grow.
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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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