The Indo-China Luxury Car Market to See Robust Growth by 2020, Expects SRI in Its New Insightful Research Report Published at MarketPublishers.com
09 Jun 2017 • by Natalie Aster
LONDON – As one of the world’s largest passenger vehicle markets and also one of the top vehicle manufacturers in both passenger and luxury segments, India is recognized to have a huge growth potential in the luxury cars segment in the foreseeable future.
Despite a comparatively low penetration level of luxury cars in the country, owing to the ban on diesel vehicles in the National Capital Region, together with demonetization, the global luxury car manufacturers are still optimistic regarding penetration in India. Currently, the luxury cars penetration in India stands at only 1.1%. Mumbai and Delhi have always been the two leaders in terms of luxury car sales in the country. However, today luxury car brands are focusing on other potential cities in India. Outstanding financing schemes, strong dealer network and introduction of many strategically priced models at different price points are amid the key sales boosters for sales of luxury cars in India today.
When it comes to China, the luxury car segment is gaining traction. In March 2017, the Chinese luxury car segment registered the highest sales of Mercedes-Benz cars. The sales surged by 32.1% y-o-y. Traditionally, China has ranked one of the key international luxury car markets, and the country has been attracting large foreign investments. However, at present the country’s luxury market is dampened by the corruption crackdown of the current Chinese Government. Still, the Chinese luxury cars market is set to see impressive growth in the years ahead, and by 2020 it will take the first place leaving the US behind.
New research report prepared by Smart Research Insights (SRI), “Assessment of the Indo-China Luxury Car Market 2017”, is devoted to the analysis and assessment of the current situation in the Indo-China luxury car market. This in-demand report sheds light on the performance of the Indo-China luxury cars market and discloses updated statistics. Moreover, it highlights the market dynamics, examining the main market growth drivers, challenges and restraints; identifies forthcoming opportunities and possible trends. A detailed review of the competitive landscape together with comprehensive profiles of the most prominent market participants as well as a snapshot of the recent industry developments are available here, too. Future forecasts for the market up till 2020 are also provided in the report.
Many more research reports prepared by this publisher are available here.