In 2025, premium and luxury cars in the United Arab Emirates experienced significant changes, driven by shifting consumer preferences and industry trends, with a growing emphasis on sustainability and advanced technology. The increasing demand for luxury electric and hybrid SUVs reflects a rising awareness among consumers for environmentally-responsible vehicles without compromising luxury. The expansion of charging infrastructure and government incentives for zero-emission vehicles has further

Premium and luxury cars in Germany continued to record positive retail volume and value growth in 2024. Despite another challenging year, the inflation rate slowed, thereby improving confidence among premium and luxury car consumers. Nevertheless, overall demand remained below pre-pandemic levels in 2024. Although wealth tends to determine the degree of demand that exists for premium and luxury cars, sales can also be heavily dependent on prevailing consumer confidence among what is a niche demo

Retail value sales of premium and luxury cars in Taiwan grew by 13% in 2024, reaching TWD 274 billion, up from TWD 241 billion in 2023. The demand for these high-end vehicles is closely tied to wealth, with sales performance heavily influenced by consumer confidence within a very affluent demographic. In 2024, Taiwan had over 2,900 ultra-high-net-worth individuals (UHNWIs), 69,000 high-net-worth individuals (HNWIs), and more than 588,500 affluent adults, who collectively account for the majority

Sales of premium and luxury cars in Indonesia saw strong growth in 2023, although broader economic uncertainties and a cooling consumer demand were seen towards the end of the year. Despite this, sales of premium and luxury cars continued to deliver double-digit growth in current value and retail volume terms in 2024, albeit not reaching the highs of the previous two years. The market's ability to maintain its momentum can be attributed to the increasing demand for premium vehicles, particularly

Sales of premium and luxury cars have declined in current value and retail volume terms in 2024. This represents two opposing trends in Switzerland whereby the demand for high-end, energy and fuel efficient cars that offer a higher level of comfort and safety keeps growing while overall spending has become more conservative. With the strain on the economy over the review period, including high inflation, price increases and financial insecurity, consumers focused more on the overall value-for-mo

Premium and luxury cars in the US is set to maintain double-digit retail current value growth in 2024. Tesla Inc was the clear leader in premium and luxury cars in 2023. Its share of retail value sales went from 19% in 2021 to 33% in 2022. However, in 2023 Tesla’s share saw its first decline since 2019, from 33% to 25%. No single player significantly capitalised on Tesla's losses, although Mercedes-Benz, BMW, and Lexus all saw minor gains in value share.

The economic downturn, cost-of-living pressures, higher interest rates and resultant slowdown in consumer spending has finally impacted demand for premium and luxury cars in Australia. General market deliveries declined for the first time in June 2024, according to the Federal Chamber of Automotive Industries (FCAI), following 14 months of consecutive growth, which represented the longest period of new car sales in 20 years. Premium and luxury cars have not been impervious to this slump, with th

Premium and luxury cars has been the most dynamic area of luxury goods in Poland in 2024, recording double-digit growth in retail value and volume terms. Despite efforts from the government to encourage consumers to switch to electric and hybrid vehicles most Polish consumers till favour luxury cars with traditional combustion engines. The situation is slightly different when it comes to premium cars with brands like Audi (Volkswagen AG), BMW (Bayerische Motoren Werke AG) and Mercedes-Benz (Daim

Premium and luxury cars continued to see strong growth in current value and retail volume terms in South Africa in 2024. A more stable rate of inflation in the country, alongside the growing number of affluent consumers has helped to sustain a healthy demand for premium and luxury cars. Demand for premium and luxury cars is contingent on wealth and sales are heavily dependent on prevailing consumer confidence amongst a niche demographic of wealthy individuals. In terms of the domestic consumer b

Premium and luxury cars remains a strong category in Sweden in 2024, despite overall economic uncertainty, inflationary pressures, and a weak local currency. This can also be evidenced by the fact that the leading players in luxury goods are also those who sell luxury cars, being Volkswagen Group AB, Mercedes-Benz AG, Tesla Inc, and BMW Northern Europe AB, with these names being the only players holding double-digit shares in the overall luxury goods category. It is also noted that sales of used

Value sales of premium and luxury cars are set to grow by 8% in current terms in Hong Kong in 2024 to total HKD16.1 billion. This will represent a return to growth, with sales having fallen dramatically in 2023 after two years of exceptionally strong growth in 2021 and 2022. In contrast to most areas of the luxury goods market, premium and luxury cars is not heavily reliant on tourists. This has meant that the category has been less sensitive to the impacts of the pandemic on travel. Wealth dete

Retail value sales of premium and luxury cars rose by a significant 30% to a total of SGD5.2 billion in 2024, with wealthy consumers showcasing resilience in the face of macroeconomic challenges. Sales are heavily based on high consumer confidence amongst the wealthier demographic. Consequently, the number of individuals owning significant wealth considerably impacts sales, with over 800 ultra HNWIs, 26,300 HNWIs, and 247,600 affluent adults present in Singapore in 2024. Being significant and hi

Sales of premium and luxury cars in the Philippines continue to be significantly influenced by the economic landscape in 2024. Therefore, the trends seen connected to urbanisation and the growth of the middle-class are helping to boost sales in premium and luxury cars – particularly so within metropolitan areas. Overall, this urban migration, coupled with a rise in population, has intensified demand for luxury vehicles among consumers seeking status and comfort. Added to which, ongoing moderate

Current value sales of premium and luxury cars are up by 3% to total CNY1.929 billion in China in 2024, thanks to persistent demand from higher-income consumers, with expenditure proving resilient in the face of macroeconomic headwinds. Wealth determines the degree of demand that exists for premium and luxury cars, and sales performance is greatly impacted by consumer confidence among a niche demographic. The number of wealthy individuals in China has a huge impact on the performance of premium

Overall demand for premium and luxury cars in Thailand remains buoyant in 2024, with the category contingent on wealth among a niche segment of high net worth individuals. Although Thailand’s economic situation remains uncertain, as it continues to be pressured by high inflation and soft spending power among the local population, the category of premium and luxury cars remains resilient due to the main target audience of affluent consumers being less impacted by these factors.

Retail value sales of premium and luxury cars saw double-digit growth of 13% in 2024, with total sales of KRW26.4 trillion. The landscape continues to thrive despite inflation, while the macroeconomic situation has less impact on luxury and higher-income consumers in South Korea. Wealth determines the demand for premium and luxury cars, and sales are reliant on high consumer confidence amongst a niche consumer demographic. As such, the number of wealthy consumers in South Korea strongly influenc

Value sales of premium and luxury cars are set to grow by more than 200% in current terms in Argentina in 2024. This will be mostly because of the increase in prices after the devaluation of December 2023, but also because, during the year, there was a strong increase in the US dollar price, which is particularly relevant in this category.

Malaysians continue to show a strong appetite towards premium and luxury cars with vehicle sales seeing double-digit growth in value and volume terms in 2024. This dynamic growth has been backed by aggressive new launches from leading brands like BMW and Porsche. Brands like Ferrari have also continued to work on building brand interest and awareness. For instance, the Ferrari Owners Club Malaysia Festival (FOCM) gathers together Ferrari enthusiasts with owners driving up to the peak of Resorts

Sales of premium and luxury cars are rising in Brazil in 2024 in both value (constant and current) and volume terms, though growth has slowed considerably since 2023. Wealthy consumers are showing heightened demand for sophisticated items including premium and luxury cars. However, the increasing difficulties surrounding imports of components to enable local assembly of cars led to delays in delivery during the review period, while a global shortage of semiconductor chips (mainly used in car con

While value sales of premium and luxury cars in Italy fully recovered to surpass pre-pandemic levels in 2023 due to the high value of these items, overall demand is expected to recover over 2024. Wealth determines the degree of demand that exists for premium and luxury cars, and prevailing consumer confidence among this niche demographic is having a significant impact on sales. The significant number of wealthy individuals in Italy typically account for the highest percentage of sales as they ar

Despite the weak economic outlook, with basic goods growing in price and interest rates still high (the majority of Spaniards have a mortgage), premium and luxury cars in Spain is set to maintain dynamic growth in both retail volume and current value terms in 2024. Wealth determines the degree of demand that exists for premium and luxury cars, as wealthier consumers have the resources to buy and run a new premium and luxury car, despite the overall economic difficulties in the country. The fact

Retail current value sales of premium and luxury cars will rise by a substantial 13% in 2024. This significant growth highlights that, despite inflation and the challenging macroeconomic environment, the luxury car market in Romania is continuing to grow. Affluent buyers remain willing to invest in prestige car brands, in addition to vehicles that offer advanced technological and sustainable features and customisation. The number of significantly wealthy consumers in Romania has a huge impact on

Within luxury goods, premium and luxury cars dominates in India – expected to account for over 40% of overall value sales in 2024. Premium and luxury cars has also been experiencing a remarkable uptick in sales in India, and in 2024 it is set to continue its double-digit growth trajectory in retail current value terms. This is being driven by a combination of rising disposable incomes and an expanding base of high-net-worth individuals (HNWIs), and reflects a robust consumer appetite for high-en

The market for premium and luxury cars in Turkey poised for robust growth in current value terms in 2024.