Luxury Car Market in China will Grow at an Annual Compounded Rate of 12%

Date: 2015-08-13

While the Indian auto sector is experiencing a down run, the luxury car market is witnessing growth. The sector is expected to grow at a rate of 15% per annum in the period 2015-2018. In 2013 the Indian luxury car market sold more than 32,000 units and the current market size is estimated to be 40,000 units. The compact luxury segment is up coming in India and to tap the potential Audi and Mercedes are looking to launch new models in the country at competitive pricing possible due to local assembly.

Growth in the global luxury car market in 2015 is expected to be led by demand from China and India which have been posting double digit market growth and recovery of the European luxury car market. China became the largest auto market in the world in 2009, leaving the US behind. It is projected that the luxury car market in China will grow at an annual compounded rate of 12% in 2014-2020 while the overall passenger car market will grow at 8%.

The report ‘Analyzing the Indian Luxury Car Market 2015-2020” highlights key dynamics of the Indian 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, Tata Motors Limited and General Motors. The report contains latest industry-related opinions.
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