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Global sales of luxury cars saw yet another year of strong growth. Global wealth expansion is evidently going much further than just personal luxury goods with luxury cars clearly benefiting.
Thanks to a combination of this growing prosperity teamed with changing consumer habits; the luxury car market is experiencing more opportunities across a wider range of geographies, reaching both developing and emerging markets. The Asian luxury powerhouse was also in the top five markets in terms of percentage value sales growth.
However, in actual volume terms, China accounts for almost , of the additional , luxury cars sold over the period, adding USD However, car manufacturers, both in the luxury and non-luxury segments, see huge potential for sales growth in the country and are looking to invest further in this fast-growing market.
To drive this growth and demand in China and India, vehicle production increased dramatically over the past five years in these markets. In China as well as India, car makers can avoid hefty import duties by manufacturing locally, thus reducing the overall cost of buying a luxury car and widening the consumer reach.
This shift has affected automakers ranging from mainstream to luxury. At the premium level, luxury car makers including BMW, Mercedes-Benz and Jaguar are all producing an increasing number of vehicles in Asia. Another region to watch is Latin America, with Mexico of particular note.
Asia Pacific will become the winner in luxury car growth. Asia Pacific clear winner in wealth expansion to drive luxury car growth Source: Euromonitor International.
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COVID has forced car brands to rethink the way they cater to car-buyers' needs, with Audi Australia announcing a timely and novel approach - take the car salesman out COVID has forced car brands to rethink the way they cater to car-buyers' needs, with Audi Australia announcing a timely and novel approach - take the car salesman out of the equation altogether. Audi has launched MADAM Wheels has been accused of being unfairly critical of Lamborghinis in the past, with ride comfort in the stiff-suspensioned vehicles a top-line issue.
Global sales of luxury cars saw yet another year of strong growth.
We also compare luxury vehicles for people who wanted to add style and class to their journey. However, our suppliers only offer luxury car hire in selected locations. Thrifty, on the other hand, offers sports car rental in Victoria.
Asia Pacific will become the winner in luxury car growth
The best part about using numbers in your argument is that no one bothers to question their validity. I think you missed the point here by lack of credible research, read the Historical storylines about the First Model T, and what the Government says about it being able to deflect a round and the fully automatic fire from a Browning Model M The famous pictures and film of Henry Ford striking a model-T with an axe and the rebound of the axe head was a means of showing off the amazing strength of fibre composites. What type of composite plastic this was is unknown. BS I am Santa Claus and we are not related quit spreading rumors like this.
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We hope you are staying safe and healthy. Here at the Melbourne Car Supermarket, we are still open for business. Please feel free to call our dealerships directly with any questions about vehicles we have in stock. We will maintain high standards of hygiene and welcome walk-ins, whilst adhering to the social distancing guidelines. We will continue to listen and follow the advice of the Government and health authorities.
