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Country Report

Luxury Cars in

Premium and Luxury Cars in the US

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

Demand for new SUVs drives luxury cars growth

Lifted by a strong economy and the release of new, price-accessible SUV models and electric vehicles, premium and luxury cars continued its strong pace of growth in 2019. As improved fuel economy coupled with consumers’ desire for space and versatility, SUVs lead the growth, with consumers trading in their old vehicles for the latest models.

Luxury carmakers increasingly market entry-level models to millennials

While the marquee models of many luxury carmakers can reach sales prices of up to hundreds of thousands of US dollars, brands are increasingly offering smaller, affordable models of sedans and SUVs to market towards millennials and other younger consumers. BMW, Mercedes-Benz and Jaguar have all expanded their model lines to include more entry-level SUVs in recent years.

Hybrids and EVs remain popular as environmental concerns increase

As consumers becoming increasingly concerned with the environment, many are turning to the most polluting product they own in an effort to reduce their personal carbon footprint. While hybrid vehicles have long been popular among mass car brands, luxury brands are increasingly offering hybrid versions of their most popular models in order to offer improved fuel economy and an overall more environmentally-friendly option.

COMPETITIVE LANDSCAPE

Mercedes-Benz continues to lead premium and luxury cars with SUV and customer service strength

Mercedes-Benz continued to be the dominant player in premium and luxury cars in 2018 thanks to its strong brand recognition and wide portfolio of top-selling SUVs. In-step with consumers’ desire for versatile yet accessibly-priced luxury vehicles, Mercedes unveiled the all-new GLB-Class SUV in Park City, UT in June 2019, set to be priced between the GLA and GLC-Class SUVs in its line-up when it goes on sale in the US at the end of 2019/beginning of 2020.

Carmaker-owned and third party subscription services offer an array of incentives

As millennials continue to drive the general consumption trend favouring access over ownership, luxury automakers and other transportation providers are offering alternative forms of car ownership and use, including subscription services and ride sharing. Available across select US markets, subscription services including Access by BMW, Audi Select, Mercedes-Benz Collection and Porsche Passport give users access to several vehicles within the company’s line-up for a monthly fee, which also includes insurance, maintenance, and roadside assistance, while Lexus Complete Lease offers a 2-year, 20,000-mile lease on its UX and UX hybrid crossovers, inclusive of insurance and maintenance, for a single price.

Luxury cars are utilised in the development of autonomous driving technology

With industry conversations and investment dollars increasingly revolving around self-driving cars, luxury automakers are finding opportunities in partnering with software companies and other developers of autonomous vehicle technologies in providing cars for their research. For example, Lyft’s self-driving affiliate Aptiv uses BMW 5-series sedans to test its technologies on the streets of Las Vegas, NV.

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

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

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 the US - Category analysis

HEADLINES

PROSPECTS

Demand for new SUVs drives luxury cars growth

Luxury carmakers increasingly market entry-level models to millennials

Hybrids and EVs remain popular as environmental concerns increase

COMPETITIVE LANDSCAPE

Mercedes-Benz continues to lead premium and luxury cars with SUV and customer service strength

Carmaker-owned and third party subscription services offer an array of incentives

Luxury cars are utilised in the development of autonomous driving technology

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 the US - Industry Overview

EXECUTIVE SUMMARY

The push for experiences over goods lifts luxury across categories

Consumers’ values increasingly shape brands’ actions

Luxury conglomerates dominate company rankings

E-commerce continues to grow, but luxury stores remain competitive

Forecast outlooks vary across categories, but remain strong despite slowdowns

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 the US

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Demand for new SUVs drives luxury cars growth

Luxury carmakers increasingly market entry-level models to millennials

Hybrids and EVs remain popular as environmental concerns increase

COMPETITIVE LANDSCAPE

Mercedes-Benz continues to lead premium and luxury cars with SUV and customer service strength

Carmaker-owned and third party subscription services offer an array of incentives

Luxury cars are utilised in the development of autonomous driving technology

Overview

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Overview

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Table of Contents

Premium and Luxury Cars in the US - Category analysis

HEADLINES

PROSPECTS

Demand for new SUVs drives luxury cars growth

Luxury carmakers increasingly market entry-level models to millennials

Hybrids and EVs remain popular as environmental concerns increase

COMPETITIVE LANDSCAPE

Mercedes-Benz continues to lead premium and luxury cars with SUV and customer service strength

Carmaker-owned and third party subscription services offer an array of incentives

Luxury cars are utilised in the development of autonomous driving technology

CATEGORY DATA

Luxury Goods in the US - Industry Overview

EXECUTIVE SUMMARY

The push for experiences over goods lifts luxury across categories

Consumers’ values increasingly shape brands’ actions

Luxury conglomerates dominate company rankings

E-commerce continues to grow, but luxury stores remain competitive

Forecast outlooks vary across categories, but remain strong despite slowdowns

MARKET INDICATORS

MARKET DATA

SOURCES

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