PROSPECTS AND OPPORTUNITIES
Dichotomy of shrinking disposable incomes but rising number of wealthy Spaniards
Spain is set to continue to suffer from high inflation and high interest rates into the forecast period, and along with this, shrinking disposable incomes. Nevertheless, the number of wealthy Spaniards (HNWIs and ultra HNWIs) is also set to grow, and these consumers are more resilient in the face of economic downturn.
Change in attitudes and new ways of purchasing likely to drive sales
Since the COVID-19 pandemic, the attitude that one should enjoy life and indulge oneself when this is possible keeps gaining ground. As a result, many Spanish consumers, Gen X in particular, are not postponing the purchase of products they have always wanted to acquire.
Second-hand and Restomod trend set to impact sales
Wealthy Spaniards are increasingly looking for collectible cars as a treat, but also as an investment. Restomod (restoration and modification of classics) is growing in popularity.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Spain 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 Spain, 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 Spain 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 Spain?
- Which are the leading brands in Premium and Luxury Cars in Spain?
- How are products distributed in Premium and Luxury Cars in Spain?
- How important is tourism in evaluating demand for Premium and Luxury Cars in Spain?
- 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 Spain - Category analysis
KEY DATA FINDINGS
Resilient performance despite overall economic outlook
Innovation is concentrated on sustainability
Mercedes-Benz from Daimler AG remains a firm favourite
Dichotomy of shrinking disposable incomes but rising number of wealthy Spaniards
Change in attitudes and new ways of purchasing likely to drive sales
Second-hand and Restomod trend set to impact sales
Luxury Goods in Spain - 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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