Our analysts feel that the future of the luxury car segment in China is bright. The consumer confidence is high and despite the Government’s austerity drive the sale of luxury and super luxury vehicles has not slowed down. It is projected that the Chinese car market will grow 3%-5% per year until 2020. With households with incomes over USD 34,000 projected to triple to 23 million by 2020, it is expected that the number of prospective buyers for premium cars in China will grow fast.
Global key luxury car manufacturers are feeling the heat of the trade negotiation between the United States and China. BMW AG expects the United States trade negotiations with China to affect earnings in 2019 by at least USD 1.1 billion. Other factors contributing to this affect include higher commodity prices and foreign exchange movements. As per the November 2018 sales reports, BMW is the second largest luxury car player in the United States, behind Mercedes-Benz. BMW clocked sales of 28,330 vehicles in November while Mercedes-Benz recorded sales of 31,022 vehicles.
Why should the report be purchased?
The report ‘Assessment of the Global Luxury Car Market 2018’ highlights key dynamics of the luxury car sector world over. The growing opportunity in the sector has been investigated along with key challenges. Key geographies including the United States, Europe, China, India and the Middle East have been studied in detail and the report covers latest industry numbers and forecasts. The business & financial overview along with the recent developments of all major luxury car manufacturers such as BMW, Daimler, Volkswagen, Tesla, Tata Motors, Porsche and General Motors has been included in the report. The report also contains the opinions of industry stakeholders and experts.
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