Over the forecast period, it is anticipated that premium and luxury cars in South Africa will witness moderate growth in retail volume terms and value terms (at constant 2024 prices). Growth is expected to be supported by new launches, especially electric and plug-in hybrid vehicles which are steadily gaining popularity among South African consumers.
As technology evolves, specifically with regard to artificial intelligence, car manufacturers are anticipated to increasingly incorporate its functionalities into their newer models. For example, Mercedes-Benz (Daimler AG) has already launched a beta programme that incorporates OpenAI’s ChatGPT into the infotainment systems of some models with the aim of enhancing the driver’s experience and that of their passengers.
Many car manufacturers are already moving towards “cruelty-free interiors” in order to cater to the changing needs of consumers, an increasing number of whom are looking for eco-friendly and animal-friendly products. For instance, Land Rover has started using Ultraleather, a material made out of 100% polyurethane that has been developed in collaboration with Ultrafabrics.
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Understand the latest market trends and future growth opportunities for the Premium and Luxury Cars industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium and Luxury Cars industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Passenger car vehicles providing exceptional comfort, aimed at the premium market and at drivers wanting a higher level of performance and handling or a vehicle that gives the impression of being capable of high-speed motoring. These cars are generally designed to appeal to high earning, status led consumers and generally retail at US$75,000 plus Example models include: Aston Martin, Ferrari, Jaguar, Bentley, Porsche, McLaren, Maserati, Rolls-Royce and Tesla
See All of Our DefinitionsThis report originates from Passport, our Premium and Luxury Cars research and analysis database.
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