Executive Cars - Central & Western Europe

Central & Western Europe

Revenue in the Executive Cars market is projected to reach US$11,380m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.15%, resulting in a projected market volume of US$11,450m by 2028.
Executive Cars market unit sales are expected to reach 190.2k vehicles in 2028.
The volume weighted average price of Executive Cars market in 2024 is expected to amount to US$60k.
From an international perspective it is shown that the most revenue will be generated in China (US$62,750m in 2024).

Key regions: United States, Germany, China, Worldwide, United Kingdom

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Analyst Opinion

The Executive Cars market in Central & Western Europe is experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend.

Customer preferences in Central & Western Europe are shifting towards more luxurious and high-performance vehicles. Executives and professionals in this region value comfort, style, and advanced features in their cars. They are willing to invest in premium brands that offer superior quality and technology.

This preference for executive cars is driven by the desire to make a statement and showcase success. Trends in the market reflect this shift in customer preferences. Luxury car manufacturers are expanding their product offerings and introducing new models to cater to the growing demand in Central & Western Europe.

These new models often come with advanced safety features, innovative technologies, and improved fuel efficiency. Additionally, there is a rising interest in electric and hybrid executive cars, as consumers in this region are becoming more conscious of environmental issues. Local special circumstances also contribute to the development of the Executive Cars market in Central & Western Europe.

The region is known for its well-developed infrastructure and road networks, making it conducive for driving luxury vehicles. Moreover, Central & Western Europe is home to several major cities and financial hubs, where executives and professionals reside. The need for reliable and prestigious transportation in these urban areas further drives the demand for executive cars.

Underlying macroeconomic factors play a crucial role in the growth of the Executive Cars market in Central & Western Europe. The region has experienced stable economic growth in recent years, resulting in increased disposable income among consumers. This allows individuals to afford luxury vehicles and fuels the demand for executive cars.

Additionally, low interest rates and favorable financing options make it easier for customers to purchase these high-end vehicles. In conclusion, the Executive Cars market in Central & Western Europe is developing due to shifting customer preferences towards luxury and high-performance vehicles, trends in the market that cater to these preferences, local special circumstances that support the use of executive cars, and underlying macroeconomic factors such as stable economic growth and favorable financing options. As these factors continue to drive the market, we can expect further growth and development in the Executive Cars segment in Central & Western Europe.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).