DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Assessment of the Indo-China Luxury Car Market 2017" report to their offering.
Assessment of the Indo-China Luxury Car Market 2017' highlights key dynamics of China's luxury car market. The growing opportunity in the sector has been investigated along with capturing initiatives and performance of key players such as Volkswagen AG, Daimler AG, Bayerische Motoren Werke AG (BMW), Tata Motors Limited, General Motors Company, Maserati S.p.A. and Porsche AG. The report contains latest industry-related opinions.
India is one of the largest passenger vehicle markets in the world and vehicle manufacturers both in the passenger and luxury segment see a huge potential for sales growth in the country. While the luxury car penetration level in the country is low but leading luxury car manufacturers are betting on the market's potential. Luxury car penetration in India currently stands at 1.1% as compared with 2.7% in Brazil. While, the September 2015 ban on diesel vehicles in the National Capital Region coupled with demonetisation has posed a challenge for players, they are still optimistic.
In 2017, in China, the luxury car segment is seeing strong growth. Mercedes-Benz witnessed its best ever month in terms of sales in China in March 2017 with sales growth of 32.1% year-on-year (49,871 units). The Company's first quarter 2017 sales grew by 37.3% to 144,947 units. Traditionally China has been one of the most important international luxury car markets and the country has been attracting huge foreign investment. In 2015, Daimler and their joint venture partner Beijing Automotive Group announced their intention to spend USD 1.37 billion to increase Mercedes capacity at their Beijing plant to double.
The current Chinese Government's corruption crackdown has dampened the luxury market in the country. Luxury cars, business jets and yachts are some of the sectors that have been adversely affected. However, the outlook for the luxury car market in China is bright. It is expected that by 2020 China will become the world's leading luxury car market leaving the United States behind.
Key Topics Covered:
1. Analyst Opinion
2. Global Luxury Car Market Overview
3. India Luxury Car Market
4. China Luxury Car Market
5. Competitive Landscape
6. List of Charts and Graphs
7. Research Methodology
- Bayerische Motoren Werke AG (BMW)
- Daimler AG
- General Motors Company
- Maserati S.p.A.
- Porsche AG
- Tata Motors Limited
- Volkswagen AG
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