PROSPECTS AND OPPORTUNITIES
Positive outlook with sustainability top of mind for consumers and manufacturers
The outlook for premium and luxury cars in Germany is extremely positive, especially during the first year of the forecast period when retail volume sales are expected to record dynamic growth to fully recover and surpass pre-pandemic levels. An improving economy and greater consumer confidence will support greater uptake in the coming years, along with further developments in sustainability as consumers prioritise brands that align with their values.
Further development of autonomous vehicles likely to emerge in luxury segment
The government in Germany is set to continue to foster innovation in the field of autonomous vehicles (AVs) to advance the technology and eventually have more AVs on the road. Despite being permitted to operate in Germany and already being commercialised under the Autonomous Driving Act, autonomy level 3 vehicles account for a very small percentage of market sales.
Despite consumers’ reservations and removal of incentives, premium and luxury electric vehicles offer growth potential
The demand for premium and luxury electric vehicles (EV) is set to further rise in Germany over the forecast period. Instant torque, silent engines, and advanced driver-assistance systems heighten the appeal of these vehicles, with Bayerische Motoren Werke planning to expand the manufacturing of its electric vehicles across all of its brands, including Mini and Rolls-Royce, in the coming years.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium and Luxury Cars industry in Germany, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Premium and Luxury Cars in Germany report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Premium and Luxury Cars in Germany?
- Which are the leading brands in Premium and Luxury Cars in Germany?
- How are products distributed in Premium and Luxury Cars in Germany?
- How important is tourism in evaluating demand for Premium and Luxury Cars in Germany?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Premium and Luxury Cars in Germany - Category analysis
KEY DATA FINDINGS
Despite challenges, sales of premium and luxury cars in Germany improves
Digitalisation supports online sales and AI development in the category
Local car manufacturers continue to drive category sales
Positive outlook with sustainability top of mind for consumers and manufacturers
Further development of autonomous vehicles likely to emerge in luxury segment
Despite consumers’ reservations and removal of incentives, premium and luxury electric vehicles offer growth potential
Luxury Goods in Germany - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
Premium and Luxury Cars
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 definitionsWhy 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 report originates from Passport, our Premium and Luxury Cars research and analysis database.
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