Latest industry research report on Luxury vehicle Market. Luxury vehicles are a prominent segment of the luxury goods market and are characterized by the superior and luxury offerings in vehicles. Need for comfort and technologically innovative features that convey the social status of an owner have generated the demand for luxury vehicles.
Some of the driving factors for the luxury vehicles market are rising demands from affluent buyers in developed as well as emerging economies, technological advancements in luxury vehicles and rising affordability for these vehicles. However, requirement of improved vehicle care service centers and high costs of these vehicles are the key restraints in the global luxury vehicles market.
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A shift in the adoption of conventional vehicles toward technologically advanced, eco-friendly luxury vehicles would open numerous opportunities for the luxury vehicles market. However, major challenges in the luxury vehicles market are the presence of alternatives, low-cost public transport systems such as buses and railways and other cost-effective private vehicles that are widely used by the middle-class population worldwide.
The key market players such as Tesla Motors, have focused their production on recent luxury vehicle technologies such as eco-friendly and electric luxury vehicles that includes automatic emergency-braking and the blind spot warnings systems. Companies profiled in this report include Audi, Mercedes-Benz, BMW, Land Rover, Porsche, Jaguar, Volvo, Bentley, Acura and Lexus.
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The global luxury vehicles market is segmented on the basis of size of luxury vehicles and geography.
Luxury Vehicles Market- By Size of Vehicles
- Premium compact segment
- Entry-level luxury/compact executive cars
- Mid-size luxury/executive cars
- High-end luxury/full-size luxury cars
- Ultra-luxury cars and luxury SUV/crossover vehicles
Luxury Vehicles Market – By Geography
- North America
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