PROSPECTS AND OPPORTUNITIES
Positive outlook but category likely to be driven by niche segment of affluent consumers
The outlook for premium and luxury cars in Thailand is extremely positive over the forecast period, with further strong retail volume growth expected. This performance will be driven by certain supportive factors, such as rising disposable incomes among affluent groups, and a growing consumer requirement for new and advanced models of vehicles.
Launch of new models could be key success factor for premium and luxury cars
New car series and models are expected to be further launched by leading brands, either as new collections or established models with minor upgrades, to maintain consumer interest and encourage value growth. Brands will likely emphasise new embedded technologies, innovative features, as well as new designs.
Market development could move towards customer-centric strategies
It is likely that manufacturers of premium and luxury cars will adopt various strategies such as utilising big data gathered from their existing customers and target audience to help drive future development and sales targets. These could emerge in terms of both products (localised options designed specifically for Asian/Thai audiences, as already offered by Porsche) and services (such as the “one price for all” strategy of Mercedes-Benz).
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Overview:
Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in Thailand 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 Thailand, 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 Thailand 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 Thailand?
- Which are the leading brands in Premium and Luxury Cars in Thailand?
- How are products distributed in Premium and Luxury Cars in Thailand?
- How important is tourism in evaluating demand for Premium and Luxury Cars in Thailand?
- 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 Thailand - Category analysis
KEY DATA FINDINGS
Mixed trends within premium and luxury cars in 2024
Rising interest in sustainable transportation through EV and hybrid cars in luxury tier
Mercedes-Benz loses category leadership to BMW Mfg
Positive outlook but category likely to be driven by niche segment of affluent consumers
Launch of new models could be key success factor for premium and luxury cars
Market development could move towards customer-centric strategies
Luxury Goods in Thailand - 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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