The category is set to see a return to growth in retail volume terms from 2023 onwards with sales expected to benefit from improvements in the economy and improved consumer confidence as the disruption caused by COVID-19 gradually subsides. Demand is likely to remain relatively stable with sales likely to pick up once the disruptions in the supply chain are resolved.
Electric premium and luxury cars are expected to perform well thanks to strong marketing support, government incentives and growing concerns about sustainability. As a result, more electric premium and luxury models will be launched by the likes of Daimler AG and Bayerische Motoren Werke AG over he forecast period.
The growing number of Turkish consumers choosing to lease rather than buy premium and luxury cars is expected to have a negative impact on the category’s performance over the forecast period. Auto manufacturers and dealerships have introduced new private leasing programmes and are using competitive offers to attract consumers.
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Understand the latest market trends and future growth opportunities for the Luxury Cars industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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