The auto sector in China has been hit by the COVID-19 pandemic and the effects are expected to last till mid 2021. Shut down of manufacturing facilities, restricted mobility of consumers during lockdown and consumer’s income cuts, have all negatively affected the sector. Fear of a second wave of the novel coronavirus pandemic has made the scenario even more uncertain.
The premium and luxury car sales in China experienced a 42.4% year-over-year decline in the period January-March 2020. The market began to revive in April 2020, with sales of 277,000 vehicles, recording a growth of 11.1% year-on-year. The growth continued into June 2020 and sales increased by 27% year-on-year to reach 246,236.
Globally, once the Pandemic is over, it is expected that consumers will look for enhanced health, hygiene and sanitation features in the cars that they buy. Some aspects including in-built sanitization, advanced air-purification systems and anti-bacterial surfaces are likely to see interest from consumers. Players that are able to offer these and other innovative health features at an accessible price are expected to appeal more to consumers.
Why Purchase This Report?
The report highlights key dynamics of the global and China’s 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 (BMW), Tata Motors Limited, General Motors Company, Honda Motors Company and Porsche AG. The report contains the impact of COVID-19 on the sector and the opinions of industry stakeholders/experts.
The publisher 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.
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1. Analyst Opinion
2. Global Luxury Car Market Overview
2.2 Market Performance & Statistics
2.3 COVID-19 Impact
2.4 Market Outlook
2.5 Industry Speak
3. China Luxury Car Market
3.2 Market Performance & Statistics
3.3 COVID-19 Impact
3.4 Market Outlook
3.5 Industry Speak
4. Competitive Landscape
4.1 Bayerische Motoren Werke AG (BMW)
4.1.1 Business & Financial Overview
4.1.2 Latest Developments
4.2 Daimler AG
4.2.1 Business & Financial Overview
4.2.2 Latest Developments
4.3 Volkswagen AG
4.3.1 Business & Financial Overview
4.3.2 Recent Developments
4.4 Honda Motors Company
4.4.1 Business & Financial Overview
4.4.2 Recent Developments
4.5 Tata Motors Limited
4.5.1 Business & Financial Overview
4.5.2 Recent Developments
4.6 General Motors Company
4.6.1 Business & Financial Overview
4.6.2 Latest Developments
4.7 Porsche AG
4.7.1 Business & Financial Overview
4.7.2 Latest Developments
5. List of Charts and Graphs
5.1 Global Luxury Car Market Size (2010 to 2017, Billion Euros)
5.2 Global Sales Selected Luxury Car Brands (2019, Million Units)
5.3 Global Sales Selected Luxury Car Brands (2016, Units)
5.4 Mercedes-Benz Global Sales (2018 and 2019, 1,000 units)
5.5 BMW Group’s Global Sales by Region (FY 2019, %)
5.6 Audi Global Vehicle Shipments (2007-2019, Million Units)
5.7 China Volume of High Luxury Vehicle Sales (2011 to 2018, in 1,000s units)
5.8 China Leading Luxury and Premium Car Sales (2019, units)
5.9 China Leading Luxury and Premium Car Sales (2018, units)
5.10 China Leading Luxury and Premium Car Sales (2017, units)
5.11 China Leading Luxury and Premium Car Sales (2016, units)
5.12 China Leading Luxury and Premium Car Sales (2015, units)
5.13 China Leading Luxury and Premium Car Sales (2014, units)
5.14 China Sales Vehicles in High Luxury Segment by Brand (2016, in 1,000s units)
5.15 China Sales Vehicles in High Luxury Segment by Brand (2015, in 1,000s units)
6. Research Methodology