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Monday, 29 May 2017
New Report Covers Assessment of the Indo-China Luxury Car Market 2017
Assessment of the Indo-China Luxury Car Market 2017 is a new market research publication announced by Reportstack. 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.
Launch of multiple strategically priced models at various price points coupled with smart financing schemes and a robust dealer network is boosting the sales of luxury cars in India. Historically luxury car sales have been robust in cities such as Mumbai and Delhi but players are now targeting other cities with untapped potential. The compact luxury segment is upcoming in India and in a bid to tap into the potential Audi and Mercedes are looking to launch new models in the country at competitive pricing possible due to local assembly.
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.
Why should the report be purchased?The report ‘Assessment of the Indo-China Luxury Car Market 2017’ highlights key dynamics ofChina’sluxury car market. The growing opportunity in the sector has been investigated along with capturinginitiatives and performance of key playerssuch 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. Research methodology and delivery time
This report has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available as single-site single-user license. The delivery time for the electronic version of the report is 3 business days as each copy undergoes thorough quality check and is updated with the most recent information available. The dispatch time for hard copies 5 business days, as each hard copy is custom printed for the client.
1. Volkswagen AG 2. Daimler AG 3. Bayerische Motoren Werke AG (BMW) 4. Tata Motors Limited 5. General Motors Company 6. Maserati S.p.A. 7. Porsche AG