DUBLIN--(BUSINESS WIRE)--United Kingdom Luxury Car Industry to 2027 - Featuring Daimler, Volvo, Volkswagen and Ferrari Among Others - ResearchAndMarkets.comThe "United Kingdom Luxury Car Market, By Vehicle Type (Hatchback, Sedan, SUV/MPV), By Propulsion (ICE, Electric), By Level of Autonomy (Level 1, Level 2, Level 3, Level4/5), By Region, Competition Forecast & Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The United Kingdom luxury car market is projected to grow at a formidable rate during the forecast period. The market growth can be attributed to the rising preference towards a modern lifestyle and a rise in the adoption of the latest technologies.
Companies Mentioned
- Daimler AG (Mercedes-Benz)
- Bayerische Motoren Werke (BMW) AG
- Volvo Group
- Volkswagen Group
- Jaguar Land Rover Automotive PLC
- Fiat Chrysler Automobiles
- Aston Martin Lagonda Global Holdings PLC
- Toyota Motor Corporation (Lexus)
- Stellantis N.V.
- Ferrari S.p.A.
Luxury cars have high-end material and finishes on the interior and exterior of the car and come with advanced safety features, entertainment systems, seat massagers, etc. Hence, consumers are increasingly adopting luxury cars because of the high demand for safety and enhanced riding experience.
Greater availability of luxury cars in all vehicle categories, such as hatchbacks, minivans, sedans, etc., is expected to propel the United Kingdom luxury car market growth in the coming years. Luxury cars are seen as a status symbol since they are comparatively more expensive than traditional automobiles.
Thus, people with high disposable income prefer to purchase luxury cars to advance their lifestyles. High investment by market players to improve technologies that further enhance the driving experience and incorporate advanced features such as active suspension, executive rear seats, remote seats, remote start, etc., are further expected to drive the growth of the United Kingdom luxury cars market.
Stringent emission standards by governments of various countries and high demand for fuel-efficient vehicles are providing a remarkable growth opportunity for the players operating in the United Kingdom luxury car market. Moreover, the companies are providing car loans to consumers to make luxury cars affordable, generating interest among consumers to own luxury cars from brands like McLarens, Ferraris, Aston Martins, and Porsches.
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022E
- Forecast Period: 2023F-2027F
Objective of the Study:
- To analyze the historical growth in the market size of the United Kingdom luxury car market from 2017 to 2027.
- To estimate and forecast the market size of United Kingdom luxury car market from 2022 to 2027 and growth rate until 2027.
- To classify and forecast the United Kingdom luxury car market based on vehicle type, propulsion, level of autonomy, region, company, and region.
- To identify the dominant region or segment in the United Kingdom luxury car market.
- To identify drivers and challenges for the United Kingdom luxury car market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the United Kingdom luxury car market.
- To identify and analyze the profiles of leading players operating in the United Kingdom luxury car market.
- To identify key sustainable strategies adopted by market players in United Kingdom luxury car market.
Report Scope:
In this report, United Kingdom luxury car market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
United Kingdom Luxury Car Market, By Vehicle Type:
- Hatchback
- Sedan
- SUV/MPV
United Kingdom Luxury Car Market, By Propulsion:
- ICE
- Electric
United Kingdom Luxury Car Market, By Level of Autonomy:
- Level 1
- Level 2
- Level 3
- Level4/5
United Kingdom Luxury Car Market, By Region:
- London
- East Anglia
- Southwest
- Southeast
- Scotland
- East Midlands
- Yorkshire & Humberside
For more information about this report visit https://www.researchandmarkets.com/r/l381ju
