PROSPECTS AND OPPORTUNITIES
Shifting consumer preferences will dictate priorities
The future performance of premium and luxury cars in the UK will be shaped by changing consumer preferences and behaviours. A younger luxury demographic will have increased priorities towards sustainability, technology, brand values and transparency over existing luxury buyers, requiring premium and luxury car manufacturers to adapt their selling and communication strategies to address this growing demographic.
Regulatory pressures determine technological developments
There is an expectation of positive innovation in electric and hybrid vehicles in the coming years. However, this might continue to impact premium and luxury cars in the UK.
Sustainability across the value chain will be driven by manufacturers and consumers
Manufacturers of premium and luxury cars in the UK are expected to continue prioritising sustainability; this may primarily be due to regulatory pressures. However, consumer demand for environmentally-friendly alternatives will also push development, including from luxury buyers.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in United Kingdom 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 United Kingdom, 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 United Kingdom 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 United Kingdom?
- Which are the leading brands in Premium and Luxury Cars in United Kingdom?
- How are products distributed in Premium and Luxury Cars in United Kingdom?
- How important is tourism in evaluating demand for Premium and Luxury Cars in United Kingdom?
- 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 the United Kingdom - Category analysis
KEY DATA FINDINGS
A troubling year for premium and luxury cars
Technology innovations continue to drive development decisions
Consolidated competitive landscape remains fairly stable
Shifting consumer preferences will dictate priorities
Regulatory pressures determine technological developments
Sustainability across the value chain will be driven by manufacturers and consumers
Luxury Goods in the United Kingdom - 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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