PROSPECTS AND OPPORTUNITIES
Demand on premium and luxury cars expected to be on the rise with strong positive outlook following active launch of new models
Sales of premium and luxury cars are set to continue growing at a healthy pace over the forecast period in both value (at constant 2024 prices) and volume terms. 2024 has seen several significant new launches within premium and luxury cars such as the Lotus Emira and Lotus Eletre S.
Premium and luxury car dealers to focus on ways to attract customers both in the physical world and online
As the competition increases car dealerships will likely place more emphasis on customer service and creating a luxury shopping experience as they look to attract potential customers into their outlets. For example, the latest Lotus Kuala Lumpur Flagship Store located at Glenmarie Shah Alam features a novel configurator room which serves as a dedicated space for prospective buyers to customise their purchase and explore the various specifications to help them create their ideal Lotus.
Competition likely to intensify as Malaysia goes electric
The interest in electric and hybrid vehicles is likely to continue growing and will play a central role in the growth and development of premium and luxury cars as consumers become increasingly conscious of the wider impact of their purchasing decisions. Government tax incentives will likely also encourage more consumers to make the switch, while ambitious plans to increase the number of electric vehicle charging points will also be important.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Malaysia 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 Malaysia, 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 Malaysia 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 Malaysia?
- Which are the leading brands in Premium and Luxury Cars in Malaysia?
- How are products distributed in Premium and Luxury Cars in Malaysia?
- How important is tourism in evaluating demand for Premium and Luxury Cars in Malaysia?
- 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 Malaysia - Category analysis
KEY DATA FINDINGS
Demand for premium and luxury cars in Malaysia continues to grow at a rapid pace
BMW drives into a commanding lead thanks to the success of new models, including electric vehicles (EV), and the new Retail.Next dealership concept
Strong momentum and pick up of electric and hybrid vehicles resulted from rapid China brands penetration and Tesla
Demand on premium and luxury cars expected to be on the rise with strong positive outlook following active launch of new models
Premium and luxury car dealers to focus on ways to attract customers both in the physical world and online
Competition likely to intensify as Malaysia goes electric
Luxury Goods in Malaysia - 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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