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Country Report

Luxury Cars in

Premium and Luxury Cars in the US

Jan 2021

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!

2020 IMPACT

Luxury cars fare relatively well as top-earning households avoid the worst of the economic recession

With the total US economy expected to contract by 7% in 2020, the automobile industry has been one of the hardest hit. This is due to financially-struggling Americans placing big-ticket purchases on hold.

Part shortages and assembly plant closures impact sales during 2020

Much of the sales decline in premium and luxury cars can be attributed to the months of March and April, when dealerships and showrooms were unable to operate due to quarantine restrictions, in place in most of the country. However, even as dealerships reopened and vehicle assembly plants came back online in May, many small parts suppliers in regions like Mexico, were unable to comply with operational safety restrictions.

An affluent customer base drives sales of Tesla, while other premium manufacturers decline

At a time when household names like BMW and Audi are witnessing their sales drop by a catastrophic 20-22%, electric vehicle newcomer Tesla is expected to log a USD6 billion increase in value sales, as well as high growth in stock market capitalisation. CEO Elon Musk has kept Tesla a permanent fixture in the news cycle, once threatening to shift production away from California in response to the state-wide restrictions forcing plants to stay closed earlier in the year.

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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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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

KEY DATA FINDINGS

2020 IMPACT

Luxury cars fare relatively well as top-earning households avoid the worst of the economic recession

Part shortages and assembly plant closures impact sales during 2020

An affluent customer base drives sales of Tesla, while other premium manufacturers decline

RECOVERY AND OPPORTUNITIES

Consolidation in the premium landscape is predicted for the forecast period

Consumer hesitancy towards shared mobility and public transport leads to new car sales in 2021

Growth in charging stations and the phasing-out of gas-powered vehicles shape luxury cars recovery

CATEGORY DATA

Table 1 Sales of Premium and Luxury Cars: Value 2015-2020
Table 2 Sales of Premium and Luxury Cars: % Value Growth 2015-2020
Table 3 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019
Table 4 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019
Table 5 Forecast Sales of Premium and Luxury Cars: Value 2020-2025
Table 6 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025

Luxury Goods in the US - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

Table 7 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 8 Sales of Luxury Goods by Category: Value 2015-2020
Table 9 Sales of Luxury Goods by Category: % Value Growth 2015-2020
Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
Table 11 NBO Company Shares of Luxury Goods: % Value 2015-2019
Table 12 LBN Brand Shares of Luxury Goods: % Value 2016-2019
Table 13 Distribution of Luxury Goods by Format and Category: % Value 2020
Table 14 Forecast Sales of Luxury Goods by Category: Value 2020-2025
Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

Megatrends

Country Report

Premium and Luxury Cars in the US

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Luxury cars fare relatively well as top-earning households avoid the worst of the economic recession

Part shortages and assembly plant closures impact sales during 2020

An affluent customer base drives sales of Tesla, while other premium manufacturers decline

Overview

Why buy this report?

Samples

Delivery

Overview

Want to find out more about this report?

Table of Contents

Premium and Luxury Cars in the US - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Luxury cars fare relatively well as top-earning households avoid the worst of the economic recession

Part shortages and assembly plant closures impact sales during 2020

An affluent customer base drives sales of Tesla, while other premium manufacturers decline

RECOVERY AND OPPORTUNITIES

Consolidation in the premium landscape is predicted for the forecast period

Consumer hesitancy towards shared mobility and public transport leads to new car sales in 2021

Growth in charging stations and the phasing-out of gas-powered vehicles shape luxury cars recovery

CATEGORY DATA

Luxury Goods in the US - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on luxury goods

COVID-19 country impact

Company response

Retailing shift

What next for luxury goods?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

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