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Learn moreJan 2021
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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.
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.
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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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.
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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.