London, 08 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Global Luxury Vehicle Market 2015-2019, which is expected to grow at a CAGR of 3.38 percent during the period 2014-2019.
The demand for luxury vehicles such as sedans, coupés, hatchbacks, crossovers, and SUVs is increasing in countries such as China, the US, Canada, India, Germany, France, the UK, and Spain. The increase in the disposable income and various vehicle loan schemes launched by financial institutions and car manufacturers are increasing the demand for luxury vehicles.
“Presently, many countries are trying to minimize the environmental effects and pollution caused by the Transportation sector,” says Faisal Ghaus, Vice President of TechNavio.
“Also, there is increased demand for electric vehicles and hybrid electric vehicles that run on batteries, thereby minimizing the use of fuel and causing less pollution.”
Key Market Drivers
- Increase in Disposable Income
- Increase in Number of Women Drivers
- Increased Popularity of Electric Vehicles
- Growth in Urbanization
- Government Initiatives to Promote Electric Vehicles
Key Market Trends
- Smart Vehicles on Smart Roads
- Adoption of Telematics Solutions
- Emergence of Analytics Systems
- Increase in Environmental Concerns
Key Market Vendors
- BMW AG
- Daimler AG
- Tata Motors Ltd.
- Volkswagen AG
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
